Comments on: Just ‘Cause HUD Said So.. http://www.locomusings.com/2010/01/20/just-cause-hu-said-so/ All about life and real estate in Loudoun County, Virginia... Wed, 21 Jul 2010 17:57:35 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Vicki Lloyd http://www.locomusings.com/2010/01/20/just-cause-hu-said-so/comment-page-1/#comment-3169 Vicki Lloyd Wed, 20 Jan 2010 18:00:38 +0000 http://www.locomusings.com/?p=1153#comment-3169 When I heard this, I was very excited, until I talked to a few lenders and they confimed what Scott said. For investors, who buy with all cash on the courthouse steps, (with no title insurance, and the possibility of having to evict prior owners) then fixing to put back on the market, and then incur the sales costs to get out of it, the 20% resale cap is not worth the risk! I'm holding my breath to hear more about this and hoping it will be improved. When I heard this, I was very excited, until I talked to a few lenders and they confimed what Scott said.

For investors, who buy with all cash on the courthouse steps, (with no title insurance, and the possibility of having to evict prior owners) then fixing to put back on the market, and then incur the sales costs to get out of it, the 20% resale cap is not worth the risk!

I’m holding my breath to hear more about this and hoping it will be improved.

]]> By: Tweets that mention Even though HUD Suspended the Rule... | LoCo Musings -- Topsy.com http://www.locomusings.com/2010/01/20/just-cause-hu-said-so/comment-page-1/#comment-3168 Tweets that mention Even though HUD Suspended the Rule... | LoCo Musings -- Topsy.com Wed, 20 Jan 2010 16:58:02 +0000 http://www.locomusings.com/?p=1153#comment-3168 [...] This post was mentioned on Twitter by Heather Elias, LoCoMusings and Joe Homeowner, Heather Elias. Heather Elias said: New post at LoCoMusings... Just 'cause HUD says so... http://bit.ly/6hA2nm [...] [...] This post was mentioned on Twitter by Heather Elias, LoCoMusings and Joe Homeowner, Heather Elias. Heather Elias said: New post at LoCoMusings… Just 'cause HUD says so… http://bit.ly/6hA2nm [...]

]]>