| Subject | Date Asked | Expert |
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| buying a HUD home | 11/20/2009 | Jim Root |
Q: We are in the process of buying a HUD home. We are already qualitied and pre approved to purchase. ...
A: The "process of buying a HUD Home," requires that the Buyer use the services of a Licensed Real ...
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| Getting out of the house we have and getting into another home | 11/12/2009 | Jim Root |
Q: I don't know who can answer this question. Me and my husband have a house now that has a $47,000 ...
A: You speak of your current Home as "a LEASE to own property," and talk of a "$1200 a MONTH" ...
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| foreclosure cleanup | 11/5/2009 | Jim Root |
Q: I am interested in starting a foreclosure cleanup business in the state of Florida but i an not sure ...
A: Additional Info on FORECLOSURE CLEANUP: Go to www.listbankrepos.com This website will be of great ...
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| assistant living | 11/5/2009 | Jim Root |
Q: Do you have any assistant living facilities available. .
A: No,I'm afraid I don't have any assistant living facilities available, but perhaps I can help you ...
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| cleaning and removing stuff from property | 10/29/2009 | Jim Root |
Q: I dont really know this person , but i heard that someone , maybe his realator ,sends him a list of ...
A: I'm afraid most of your message doesn't make sense to me, but Check with the San Antonio Association ...
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| Need Help with invoice for foreclosed home cleaning | 10/28/2009 | Jim Root |
Q: I don't even know if this is where I should be asking this, but let me explain my situation. I ...
A: An INVOICE is nothing more than a BILL FOR SERVICES RENDERED! Your local Staples, Office Depot or ...
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| Renting my FHA HUD home out | 10/16/2009 | Jim Root |
Q: I thank you for your answer and I wanted to ask you about what the bank that is holding the loan ...
A: DUSTY-- If "the bank that's holding the loan" is the same bank" that made you the current loan, ...
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| deed of trust of occupancy | 10/15/2009 | Christopher A. Baker |
Q: I have been living in this home for 12 years. We plan to move to a better school district within a ...
A: You probably would be with the tax assessors declarations of homestead. I wouldn't be able to say ...
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| one year limit | 10/15/2009 | Jim Root |
Q: I want to know it is true that after one year of having our FHA Hud loan if we can allow someone to ...
A: Hey, DUSTY-- If you bought your Home using FHA-Insured Financing (which is for "Owner/Occupans" ...
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| Renting a house to HUD? | 10/11/2009 | Steele V. Propp |
Q: My wife and I are considering buying housing to rent to HUD. Hoping to be able to receive some ...
A: My specialization is in the foreclosure end of things. I have to beg off when it comes to use after ...
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| HUD Policy | 10/11/2009 | Jim Root |
Q: I read this on the HUD website "Be honest about your intention to occupy the house. Stating that you ...
A: Hey COREY-- HUD policy regarding OWNER OCCUPANCY and/or PRIMARY RESIDENCE is that the Borrower ...
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| FHA Resale Restrictions | 10/8/2009 | Jim Root |
Q: I am in the process of purchasing a home financed by an FHA loan. Somewhere along this process I was ...
A: Yes, FHA Home Loans are for OWNER/OCCUPANTS ONLY.On purchasing a Home with FHA financing involved ...
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| renting my HUD town home | 10/6/2009 | Jim Root |
Q: I have lived in my HUD townhome for 16 years I want to rent it What steps do I need to take?
A: The term "HUD Townhome" can be used to describe MORE THAN ONE KIND of property.Here are the TWO MOST ...
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| Listing FHA REO properties | 10/6/2009 | Steele V. Propp |
Q: My partner and I have an FHA number however we do not know were to get on the list for listings. We ...
A: FHA is different from most, if not all, REO providers. They almost always have one company that ...
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| FHA Owner-occupancy requirement for existing condo projects | 10/2/2009 | Christopher A. Baker |
Q: I have a client buying his first condo in a non-FHA approved complex and we were doing a spot ...
A: I would immediately contact the appraiser and present this information. I would cc the lender and ...
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| Foreclosure Repairs | 9/29/2009 | Steele V. Propp |
Q: Mr. Propp we are first time homebuyers who are in the process of buying a bank owned foreclosed home ...
A: I will have to give you a more general answer as I do not have all the details regarding the house. ...
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| FHA & owner occupancy? | 9/25/2009 | Steele V. Propp |
Q: I am buying a 4 family, while negotiating the contract the vacant units were rented by the seller, ...
A: You need to check your state tenant laws but in most areas you as a new owner inherit the leases ...
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| Becoming a HUD landlord | 9/16/2009 | Steele V. Propp |
Q: We are thinking of becoming a HUD landlord. I heard that HUD inspects the property before they ...
A: I typically do not handle anything to do with rentals. However, there should be information on this ...
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| deed done wrong | 9/9/2009 | Christopher A. Baker |
Q: I am buying a HUD home and have my loan approval and all the paper work done, now they said the ...
A: I'm not sure if this is an issue with the manufactured home not being classified as real property or ...
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| home cleanouts | 9/2/2009 | Steele V. Propp |
Q: I own a hauling company & would like to know how my business can work for hud properties as a ...
A: Just so you know I get this question at least once every two weeks. Let me give you some basic ...
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| Foreclosure clean up | 8/30/2009 | Steele V. Propp |
Q: We three would like to get into the business of cleaning up forclosure houses in our area ...
A: It seems I get this question every other weeks. Here are the two things you can do. 1) Find out ...
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| 203k Streamline work outside contract | 8/28/2009 | Steele V. Propp |
Q: I’m completing the repairs for a 203k streamline loan, while working with a contractor on the ...
A: Have not run into this situation. I would think that the required repairs are what counts. But it ...
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| 203b or 203k | 8/25/2009 | Steele V. Propp |
Q: My wife and I are looking to purchase a home that was about 85% finished before the builder went ...
A: Although not a loan officer I am very familiar with the 203K program. From the sound of things, ...
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| cleaning HUD homes | 8/24/2009 | Steele V. Propp |
Q: How do I get started in the business of cleaning up HUD housing
A: Surprisingly I get this question a couple of times a month. HUD has a local real estate company ...
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| FHA 203b with repair escrow | 8/19/2009 | Steele V. Propp |
Q: we are in the process of purchasing a HUD home with a FHA 203B with repair escrow. How does the ...
A: It is my understanding that if the appraisal says it needs a new furnace, that is a requirement of ...
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| FHA 203b with repair escrow | 8/18/2009 | Steele V. Propp |
Q: we are in the process of purchasing a HUD home with a FHA 203B with repair escrow. How does the ...
A: First of all, congratulations on your purchase. The FHA 203K program is an excellent way to fund a ...
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| Firt time to buy HUD property | 8/16/2009 | Steele V. Propp |
Q: I want to bid a HUD property in California through www.hud.gov. My question is that do I need to ...
A: All offers must be made through a broker that has been certified by HUD. There are no direct ...
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| John Beck | 8/16/2009 | Steele V. Propp |
Q: Do you know if John Beck's buy a home for $300 is legit?
A: The old saying is "if it looks too good to be true, it probably is..." Have watched the infomercial ...
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| 203 b and VA foreclosures | 8/14/2009 | Steele V. Propp |
Q: I'm trying to buy a bank owned VA foreclosure. The home needs some small repairs like water heater ...
A: I have had the same information given to me. The 203K streamline program allows up to $35,000 in ...
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| Re-selling HUD home | 8/13/2009 | Steele V. Propp |
Q: I recently purchased a HUD home in Ohio. If I paid in full with cash at closing and I signed the ...
A: I talked to our local HUD office and while I didn't get a firm answer, the thought was that you ...
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| cleaning HUD foreclosed homes | 8/12/2009 | Steele V. Propp |
Q: Who do I contact if I would like to begin cleaning HUD foreclosed homes?
A: For some reason I get this question 2-3 times a month :>) HUD is a govermental agency and already ...
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| buying HUD home/203k or other loan? | 8/7/2009 | Steele V. Propp |
Q: My question has 3 parts 1. I separated from my husband in Dec. 2008 and the divorce will be final ...
A: This is a very long and detailed question so forgive me if I miss something. Feel free to do a ...
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| HUD homes and inspection/repairs. | 8/6/2009 | Steele V. Propp |
Q: .. I'm a first time home buyer working with the city of Alexandria VA first time home buyer ...
A: First of all, I am not sure if HUD auctions can vary from place to place so I have to answer with ...
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| Insured Escrow Repairs | 8/4/2009 | Steele V. Propp |
Q: 1. Since the insured escrow repair cost are $2530. Is is correct to assume that the buyer has to ...
A: I am not sure what you are asking. It is as if I am coming in the middle of the question. Waht ...
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| Does HUD offer any brokerage an exclusive right to sell agreement? | 7/23/2009 | Christopher A. Baker |
Q: A simple question; Does HUD ever offer any brokerage an Exclusive Right to Sell agreement on a HUD ...
A: Contact your state HUD Field office. I do know that you have to be a licensed broker to conduct the ...
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| REO equity exchanges | 7/22/2009 | Steele V. Propp |
Q: I currently have an estate listed by realtor in MLS for $1,000,000. It has been approx. 3 months and ...
A: I understand your frustration at being ignored. As a long time REO listing agent myself I can tell ...
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| FHA Repair Escrow? | 7/22/2009 | Jim Root |
Q: closed on My House last Week...203b escrow hold back.Attorney is Holding the Money for Repairs.BUT ...
A: You've closed and ownership of the home has been transferred to you--and recorded, I assume. The ...
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| Type of septic system not allowed by FHA? | 7/20/2009 | Jim Root |
Q: I am pursuing a USDA-RD Guaranteed Loan which follows FHA regulations regarding property ...
A: ERIC-- According to the "DICTIONARY OF REAL ESTATE APPRAISAL-3rd EDITION: SEPTIC TANK is defined ...
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| Type of septic system not allowed by FHA? | 7/17/2009 | Jim Root |
Q: I am pursuing a USDA-RD Guaranteed Loan which follows FHA regulations regarding property ...
A: ERIC-- FHA has NO regulations that prohibit their providing Mortgage Insurance on the purchase or ...
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| Escrow Account.... | 7/15/2009 | Jim Root |
Q: Jim, We are in the process of purchasing our 1st home so we are quite confused with the details. ...
A: Welcome to the Club;I just read your Inquiry several times and I'm "quite confused with the ...
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