You are here:

HUD Properties/Home loan on sheriff sale property


20136j wrote at 2012-05-05 21:21:24
It is called a 203k loan. You will need near perfect credit to get one. It is suppose to be a tool to help you fix a home. Instead it hurts more that it helps because almost nobody can get one.

RJ wrote at 2015-04-14 00:23:24
You are looking for a 203K Loan. They are readily available, but not from banks. My daughter just closed a 203K loan.  The house needed a LOT of work. Bathrooms were molded, roof was leaking, floor coverings were missing, house was built in 1976 and never updated or maintained.  She paid $83,000, got a 203K loan for extra $30,000. Total mortgage was $113,000. House with repairs appraised for %219,000. Why such a good deal? Most people don't want to deal with the hassle of fixing up a sometimes disgusting house. In my daughter's case, her boyfriend has worked as a general contractor. They were both willing to put in huge amounts of time and effort into her house to make it a nice place to live for relatively little money.  

HUD Properties

All Answers

Answers by Expert:

Ask Experts


Steele V. Propp


I can answer most foreclosure related questions. Buying, selling, the process of foreclosure, Loss Mitigation, Short Sales, etc. Both for HUD and VA homes as well as conventional foreclosures. I work 100% in the Foreclosure arena, dividing my time equally between consumers going through foreclosure, people interested in buying foreclosures (investors and those looking for a home of their own for lesser cost), and with the lenders doing foreclosures. This unique three prong approach allows me to see all three sides of the typical foreclosure scenario. Our goal is to offer advice and create a win-win-win situation.


19 years of bank owned housing experience.

Money Magazine, Real Estate Today, Consumer Digest and many newpapers, regional and national.

Foreclosure Specialist

Past/Present Clients
GMAC Mortgage, Horizon Management, and 43 other lenders involved in the foreclosure process.

©2017 All rights reserved.

[an error occurred while processing this directive]