I knew it wouldn't last forever, but I was kind of shocked to get the information in my email that the HUD incentives for Michigan are ending soon.
As of February 12th of this year (yes, less than 2 weeks away) HUD is putting an end to the wonderful incentives that they've been offering for the since the fall of 2008 in Michigan.
The $100 down FHA program will be gone, as well as the $2500 buyers "gift" on home purchases over $25,000.
Please please PLEASE if you are considering putting a bid on a HUD home and want these incentives your bid has to be accepted by February 12th. Any bids accepted after that date will not be able to use these incentives.
Agents and mortgage brokers: If you have clients who are starting the process to purchase a HUD home and are counting on the $2500 or the $100 FHA down payment you will want to pass this information along to them quickly.
To read the announcement from HUD please visit Mcbreo.