I'm convinced that I Love HUD Part2

Yours is one more example of how completely insane everything in government has become.

I have no idea how this all could be reorganized, when so many agencies / offices / people are involved. But I do think we need to do major house cleaning and then start over.

I guess they are only interested in selling to someone who is willing to pay cash and forgo any inspections.  It's a shame that they feel it is necessary to eliminate so many people who would otherwise purchase the home and take it off the market.

We call those type of customer service people "parrots" LOL. They have a script and follow it. Can't believe they actually said to change the law. The rules for appraisers are the same in every state, mandated by federal guidelines.

I wonder if it is actually HUD or their contracted servicer who is making these decisions. Must be a sweet deal contract and we all know that you get what you pay for. Let's create a letter campaign to HUD directly letting those at the top know what is actually going on.

It might work?

Is this the same HUD that puts out the brochure "For your protection get a building inspection"? It amazes me that the government puts out all kinds of information on what the buyers should do and then does not allow them to full inspection on the properties that they are selling.

If that is their policy then it should be stated in the listing so buyers know that before they make an offer.

What a stupid law? Are you kidding me? What an ignorant comment. HUD really needs to hire folks who understand real estate.

At least you are closing HUD deals ,here in CT HUD is still looking for a closing agent (attorney) so we can proceed to closing offers that have been accepted since March. Did they not know the existing contract was ending and they'd be needing a new one. who dropped the ball on this one. I actually have investor clients that are cancelling their HUD bids after THREE MONTHS of waiting for closing dates and paperwork. They are costing agents time and money,and also costing themselves buyers. I don't get it.

P.S. these are cash money buyers ,so what could the problem be.

It is not the government that is the failure; like many organizations, it's the people within that screw things up with their petty power ego's.  Fortunately your clients have moved on to other properties!

Maybe it is different in your area, but in our area, the HUD homes are listed at the appraised price.  Yes, I said appraised price.  and it is an FHA appraisal, so it should be accepted by your lender.  Problem is, you don't get the appraisal until after the bid is accepted and you have sent in all the correct documents.  Then your lender has to get the appraisal.  If your lender is not familiar with the process, they will have to learn.  Maybe the process has changed again, but that's the way it was for a HUD deal I did with clients about a year ago.  It was easy as long as you read all the info up front.  Good luck!

It can't be a stupid law, it was made by the guvment! Oh yeah, we don't follow the rules put out by other departments!! 

Alas, I'm grom the government and I'm here to help!!! NOT!!  

The things I have to look forward to with the HUD property my client wants! (It is a little better here, but the process still has it's problems.)

Whoever said DUH got it right!

Hey Nick, just checking in on some of my friends from the January blogging challenge. Hope all is well with you!