Home Loan Information Home Loan Information From A Former Industry Insider

10Feb/110

Get a home for just $1

Buy a home for one dollar

Buy a home for one dollar?

Don’t shoot the messenger! In fact I was inadvertently involved today in an exchange between a real estate agent and a loan officer from another company where the agent was insisting the HUD $100 down program was over. It is not as of today and you can verify that for yourself.

If the $100 down HUD homes program was an issue I can only imagine what the $1 HUD homes debate would bring. So instead of making any statements about it at all simply follow the link and see what new special (if any) HUD is offering in your area.

HUD’s Dollar Homes initiative helps local governments to address specific community needs by offering low to moderate income families the opportunity to purchase qualified HUD-owned homes for $1 each.

Dollar Homes are single-family homes that are acquired by the Federal Housing Administration (FHA) as a result of foreclosure. The following link is for Georgia homes and as of this posting there are 12 available in Georgia on the $1 program. That changes regularly.

https://hudhomestore.secureportalk.net/HUD/PropertySearchResult.aspx?sState=GA&specialProgram=DOLLARHOMES

I am a multi-year veteran of the industry who has served in the highest offices in the industry. I can help you get the best deals and avoid getting ripped off!
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Checking your credit score does not hurt

16Jan/101

HUD waives foreclosure flip rule

HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS
Measure to help bring stability to home values and accelerate sale of vacant properties

WASHINGTON – In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is part of the Obama administration commitment to addressing foreclosure. Just yesterday, Secretary Donovan announced $2 billion in Neighborhood Stabilization Program grants to local communities and nonprofit housing developers to combat the effects of vacant and abandoned homes.

2Nov/090

Georgia Area Median Income by County

Many home loan mortgage programs have different requirements for maximum income levels by borrower and or household. Each state has different areas and often a single MSA or AMI may cover multiple counties. It is always best to consult with your home loan mortgage professional but, only as a guideline, here is the HUD AMI (Area Median Income) list for Georgia as of November 2, 2009. In Georgia call Ken Cook at 678-439-8683

   

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