Don't Forget About HUD-Owned Properties

The FHA Offers Tools to Help Homeowners Coming Out of Forbearance

For any homeowners out there with FHA financing who utilized the forbearance option during the COVID crisis/hardship, know that the FHA does not require a lump-sum payment once forbearance ends. The FHA does not want properties to become HUD owned homes, so they offer tools to help you repay your paused or reduced payments over time.

Low HUD Inventory Gives You a Chance to Prepare

With few HUD-owned properties on the market right now, it's the perfect time to research the process, ask your questions, pick an agent, and be 100% ready to go when more properties hit the market. At myPro Realty, we have the knowledge and experience to guide you through the process from start to finish, and we'd be more than happy to do whatever we can to help.

Year End Reminder to Consider HUD-Owned Properties

Remember that during these low inventory times, where buyers are in fierce competiton with other buyers, some of whom are probably investors, a HUD-owned property in its exclusive listing period might be just the thing that helps your buyer get into a house.

Don't Forget About HUD-Owned Properties

In today's podcast, we focus on two quick messages - first, a reminder that HUD-owned properties typically have a 15-day exclusive listing period, where owner-occupants don't have to compete with investors; and second, that this slow time of the year is a great time for you agents out there to learn more about the HUD process.

Overly Inflated Offer/Bid Prices - It's Just Bad Practice!

We all know real estate agents who think overbidding in an initial offer is good strategy, that you have to get your foot in the door first (as the winning bidder with that amazing offer), and then you renegotiate the purchase price later when the property doesn't appraise. I'm just going to say it right here - this is just bad practice! Actually, it's not just bad practice with HUD-Owned Properties, it won't actually work. Listen to Jeff as he explains why.