HUD-Owned Homes Expected to Surge!!
The U.S. Department of Housing and Urban Development is reportedly going to be releasing more of its homes to the market, which could be welcome news to buyers who have faced slim pickings in for-sale inventories.
Over the next two years, experts predict that HUD homes on the market will increase significantly as lenders work through the backlogs of foreclosures and foreclosure reviews.
“The inventory is there, [it’s] just not being released during the banks/servicers review of the loan/mortgage documents,” says Nat Genis, a HUD listing broker in Riverside County, Calif., which is already seeing an increase in HUD-owned homes.
"HUD homes are back," Genis told HousingWire. "FHA financing went away with the 'creative' financing of the 80/20 loans, and now with the increase of FHA financing, these government-backed loans guarantee that if the borrower defaults, HUD will pay off the mortgage, obtain the deed, and re-sell the home."
HUD-owned homes can be appealing because of the discounted sales price, even though they can be in poor condition often times, HousingWire reports.
HUD had 39,442 homes in its REO inventory nationwide as of Feb. 28, 2013—with 20,536 of those having pending contracts on them, according to HUD.
Discounted Package Rate of $189!
1. BPO Simplified
3. REO Certification Exam Course
The two courses, “BPO Simplified” and “REO Simplified,” are approved for continuing education credit in some states. If the courses are approved for CE credit in your state, you will receive the CE credit after completing each of the first two courses, but not for the Certification Exam.
Click on the link below for details about each course, and to find out if you can receive continuing education credits in your state
The REO Certification consists of the following three courses. You must complete all three courses to receive the REO Certification. We recommend you take the courses in the order listed below.
The two courses, “BPO Simplified” and “REO Simplified,” are approved for continuing education credit in some states. If the courses are approved for CE credit in your state, you will receive the CE credit after completing each of the first two courses, but not for the Certification Exam.
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