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| Expert | Average Ratings | Expertise |
|---|---|---|
Steele V. ProppU.S.
Available
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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. |
As long as you purchase the property as an investor it is my understanding that you can rent to whom ever you want. What you can't do it claim you are buying the property as your residence in order
Not an attorney but I don't think HUD would have a leg to stand on in a case like this. If you still want the house, see if you can negotiate the price down to cover the repairs and replacements. Any
While they probably would not catch you it is not worth the risk. You have a legally binding agreement. Instead, concentrate on getting the first house sold. What does it need? Price reduction?
Not trying to be harsh, but you will have to comply with your contractual agreement. If it states that you will owner occupy the property by such and such a date, you will have to do so. Now, HUD does
The reason for this restriction was to keep investors from pretending to be owner occupants and then flipping the property. You don't fit that. None-the-less, you signed a contract and selling the house

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