Jim Root - HUD Properties - Home Buying/Selling - Real Estate

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Expert Profile: Jim Root

Expertise: Can inform on "What exactly IS a HUD Property & can one purchase one of these Homes at BARGAIN PRICES'?" Can answer questions with regard to using a variety of FHA-Insured Loan Programs for the purchase of HUD-Owned properties--the "Traditional" FHA Mortgage, the "203B," as well as two "Special" FHA Loans, the 203K & Streamline 203K. The 203B is used to purchase properties that meet FHA's Minimum Property Standards & the 203K & Streamline "K-Loan" are "Renovation Loans" that can be used to purchase & repair all in one loan package! Can provide GENERAL information on HUD property sales procedures, and the procedures used by VA & other Agencies that may put "Foreclosed Properties" on the market! Cannot give legal advice or opinions, nor serve as rhe Questionners' "Agent," but can "point the Questioner in the RIGHT DIRECTION for special guidance & assistance" with a HUD(or other "Foreclosed") Property purchase! My Research Assistant, Gale, shown here with me, is a former Licensed Realtor.

Experience in the area
Over 30 years as a "Real Estate Professional," including working as a Licensed Realtor, Residential Appraiser & Morgage Banker in the "Private Sector" and serving as a GS-12 Realty Officer with HUD/FHA for over a decade! Worked as Deputy Chief of the HUD Property Sales Division in Alaska and as Chief FHA Appraiser for HUD's Washington State Jurisdiction.While with HUD/FHA was trained & qualified as an FHA Loan Underwriter, Construction Analyst, Review Appraiser & Property Sales Specialist! Have worked in the Real Estate Markets in Alaska, Washington,Idaho,& Oregon over the past 30 years! Am familiar with "Other Markets" via continuous research!

Organizations
Former Member of National Association of Realtors(NAR) & Society of Real Estate Appraisers (SREA)Currently a member of Mortgage Bankers Association of America (MBAA) & National Association of Review Appraisers & Mortgage Underwriters (NARA/MU)

Publications
Articles published in various National, Regional & Local Real Estate-related magazines, booklets & newsletters. Co-authored several HUD/FHA Handbooks and numerous Marketing Materials while with the US Government Housing Agency!

Education/Credentials
Associates Degree with emphasis on Real Estate,Bachelors Degree in Mass Communications & Masters Degree in Education/Teaching. Numerous private sector & government-sponsored Real Estate-related Courses over the years!

Awards and Honors
Numerous Awards & Honors for Realty Marketing & Sales while a Realtor,"Outstanding Performance Awards" annually while with HUD/FHA. Earned the following Professional Designations: "Certified Residential Originator" (CRO) from the MBAA; "Registered Mortgage Underwriter' (RMU) and "Certified Review Appraiser" (CRA) from the NARA/MU.

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Average Ratings
Prestige Points: 1010
Knowledge	9.97 Best of the best
Clarity of Response	9.93 Best of the best
Timeliness	9.97 Best of the best
Politeness	10.0 Best of the best
Number Of Questions (in Past 24 Hours)		0
Max Questions to be Asked (in 24 Hour period)		5
Total Questions (since joining AllExperts)		72

Recent Reviews from Users

Knowl	Clarity	Time	Politeness	Date
10	10	10	10	11/24/08
10	10	10	10	11/25/08
10	10	10	10	11/17/08
10	10	10	10	11/06/08
10	10	9	10	11/01/08

User Comments

thank you for your time... this did help some. It didn't fix the problem, but definitely gave us some insight on possible reasons why we were given t
(Jaime on 11/24/08)

THANKS SO MUCH ON THE ADVICE. WILL GO OUT SHOPPING FOR A LOAN OFFICER TO LEAD ME STRAIGHT.
(ron on 11/17/08)

Thanks, I have contacted my Congressman and immediately received 3 calls from the closing agent. This is defintely the way to go if you can't get any
(Kathy on 11/06/08)

Thank you for the info... I just wanted to make sure before we went through.... all paperwork is complete... should close in 2-3 weeks
(Jeremy on 11/01/08)

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Recent Answers from Jim Root

2008-11-22 203K loan???: Hi JAIME-- Sometimes Mortgage Lenders,Government Agencies that Insure Mortgages, Private Mortgage Insurance Companies and/or Investors who purchase Mortgages on the Secondary market WILL set MINIMUM...

2008-11-19 insured with escrow repair: At the Closing on October 30th,the Lender SHOULD have given your Daughter a REPAIR ESCROW AGREEMENT. This agreement is typically signed by BOTH a Representative of the Lender--usually the Underwriter...

2008-11-15 info on FHA loans and my intentions: Hey RON-- Yeah, get rid of that 11% rate ASAP! Refinancing at 6 1/2% with an FHA-insured loan should be Okay with regard to your future goals--as long as you intend to continue occupancy of ONE of the...

2008-11-03 HUD Closing: HI KATHY-- Sometimes buying a HUD-owned Home is s-o-o- frustrating! It's like the old saying, "Too many cooks spoil the broth!" It sounds like you've contacted almost all of the "cooks"--local HUD Office...

2008-10-25 Buying HUD Owner occupancy clause: Hey JEREMY-- If is is your INTENTION to occupy the property for at least a year, and "something was to come up" that required you to move, FHA would have "no problem" with your move--as long as it's...