Updated about 9 years ago on . Most recent reply
HUD
Hi All, I found a good wholesale deal but the statement says "Is subject to HUD guidelines 24 CFR 206.125". What does this mean? Is this a house that can be wholesaled to a flipper?
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
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This is a REO that was a Reverse mortgage (HECM) and must be sold for at least 95% of the FHA appraisal. Therefore, not likely a good wholesale candidate.