HUD Launches $100 down For REO
HUD announced that from 10/24/11 to Oct. 2012. OWNER OCCUPANTS can purchase a HUD REO for $100 down. But, don't stop there.The buyer can also obtain a FHA 203 loan to fix up the property.And there is more.The 3.5% FHA down payment is waived and HUD will pay the buyers closing costs up to 3.5% of loan amount.
OK, what happens in 2-3yrs when FHA has this batch of non-preforming loans??? Another bail-out that's what.Where are the adults in this bunch? Mone of taxpayer $$$ down the rathole and the problem is still there. These folkks need to be drafted by the NFL for all the can-kicks...[url]