Tuesday, July 1, 2008

July Finance Corner

HUD offers homes with $100 down payment

The department of Housing and Urban Development has an incentive program through 9-30-08 for owner-occupied homes with FHA financing through approved lenders. The incentive allows you to purchase the home with as little as $100 down AND another $2500 to use on repairs, closing costs, or to lower the mortgage amount.

What is a HUD home? These are homes acquired by HUD as a result of a foreclosure on an FHA-insured mortgage. They must be purchased "as-is," but good bargains can be found.

You can find a list of HUD homes through their Ohio representative's website, National Home Management Solution, then contact me if there's a home you'd like to see!

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