What is a HUD partial claim and how will it affect my home sale?

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Real Estate Agent with Killebrew & Company Realty, Inc.
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Minna Reid is a Broker Associate at Killebrew & Company Realty Inc., serving the Jacksonville Beaches, Ponte Vedra Beach, The ICW and surrounding greater Jacksonville area. For more info visit: WWW.MYFLORIDAHOMESALE.COM
 

 

Comments (1)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Minna Reid good explanation on HUD Partial Claims Loans.  Couple of other negatives I have run into with HUD Partial Claims is with the Closing Attorney missing the Partial Claim, then they go to purchase another property and the Partial Claim is discovered and has to be paid.  Another is the homeowner thinks they have paid off the Partial Claim, and later finds out the Servicer did not payoff the Partial Claim but instead applied the funds to paying down the principle balance on the 1st mortgage.  Not a good surprises.

Jul 30, 2019 12:38 PM