{"id":19961,"date":"2022-01-19T13:38:39","date_gmt":"2022-01-19T13:38:39","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19961"},"modified":"2022-01-19T13:38:39","modified_gmt":"2022-01-19T13:38:39","slug":"hud-gives-early-chance-to-owner-occupant-buyers","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/hud-gives-early-chance-to-owner-occupant-buyers\/","title":{"rendered":"HUD Gives Early Chance to Owner-Occupant Buyers"},"content":{"rendered":"

HUD Gives Early Chance to Owner-Occupant Buyers<\/h1>\n

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The Federal Housing Administration doubled its exclusive listing period on certain HUD single-family and real estate-owned homes that will give owner-occupant buyers more time to bid on the properties ahead of investor competition. HUD-approved nonprofit organizations and government entities also will be able to submit bids to purchase the homes before they\u2019re eligible to buy from investors.<\/p>\n

The agency\u2019s extended exclusive period is an effort to make more HUD-owned properties available to owner-occupants and non-profit organizations, according to a HUD press release.<\/p>\n

The extended exclusive listing period for bids will begin on March 1. Individuals, families, HUD-approved nonprofit organizations, and government entities will then have 30 days to review new listings of single-family homes on HUD\u2019s REO sale site, HUD HomeStore<\/a>. That is up from a 15-day exclusive period that is currently in place.<\/p>\n

The homes must be listed as \u201cinsured\u201d or \u201cinsured with escrow\u201d to qualify. The exclusive listing period applies to one-to-four family real estate-owned properties eligible for financing under the Federal Housing Administration\u2019s 203(b) program. The program typically finances up to $10,000 in renovations unrelated to the home\u2019s structure.<\/p>\n

\u201cBy extending the time frame individuals have to bid on an REO property, we are offering families a better chance to purchase a quality HUD-owned home to live in, build equity, and create generational wealth,\u201d says Lopa P. Lolluri, principal deputy assistant secretary for housing and the Federal Housing Administration.<\/p>\n

The housing market has faced a limited number of lower priced properties in the hot housing market. Investors and buyers have gone head-to-head for the limited pool of properties. Foreclosures are also drying up, limiting opportunities even more. Read more: \u2018Foreclosure Tsunami\u2019 Fears Unfounded, New Data Shows<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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HUD.gov<\/a>; \u201cExclusive Bidding Rights on HUD Homes Extended<\/a>,\u201d MReport (Jan. 14, 2022); and \u201cHUD Gives Community Groups More Time to Bid on Foreclosure Properties<\/a>,\u201d National Mortgage News (Jan. 14, 2022) [Log-in required.]<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

HUD Gives Early Chance to Owner-Occupant Buyers   The Federal Housing Administration doubled its exclusive listing period on certain HUD single-family and real estate-owned homes that will give owner-occupant buyers more time to bid on the properties ahead of investor competition. HUD-approved nonprofit organizations and government entities also will be able to submit bids to … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-19961","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nHUD Gives Early Chance to Owner-Occupant Buyers - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/hud-gives-early-chance-to-owner-occupant-buyers\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hud-gives-early-chance-to-owner-occupant-buyers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hud-gives-early-chance-to-owner-occupant-buyers\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"HUD Gives Early Chance to Owner-Occupant Buyers\",\"datePublished\":\"2022-01-19T13:38:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hud-gives-early-chance-to-owner-occupant-buyers\\\/\"},\"wordCount\":333,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hud-gives-early-chance-to-owner-occupant-buyers\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hud-gives-early-chance-to-owner-occupant-buyers\\\/\",\"name\":\"HUD Gives Early Chance to Owner-Occupant Buyers - 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