Good Neighbor Next Door HUD Program: I had a client recently inquire about the GNND program, a program setup for teachers, firefighters, policeman…. to purchase HUD owned homes at 50% off the asking price. I’m familiar with the process of purchasing HUD owned homes but this program proved to be even more challenging. By the way, there is only ONE agent that lists HUD homes in the Portland area and he is not helpful so find an agent that already knows the process. ANYway, after searching online I only found the same regurgitated information; information that I’m sure you have already found if looking into the topic. Below is additional information that you will not find easily. This information may vary from state to state but this is appicable for Oregon. The tricky parts of the program: (more…)
the first of the year. If you barely qualify for a loan now; get your bum out there and purchase; don’t waste your time on short sales that are likely to be a waste of time. Remember too, with short sales you can’t lock in your interest rate until you have final 3rd party approval, even if you are fortunate enough to get that what are the chances that the interest rate will still be as good as it is now 2-3 months down the road?