HUD Marketing

[Chris Butterfield]

Anyone want to comment on the new HUD marketing program?

 

The new rules are similar to the old in that there is a 10 day sealed bid.

 

Then there are 20 days of daily sealed bids before an investor can bid.

 

So at 30 days, investors can purchase.

 

Chris

[Jose Rivas (DGRA) CDPE, SFR]

There is one change, some of the properties in poor condition, they will have a 5 day bid for owner occupant, then they will be in the daily bids so investors can purchase them, HUD wants to give first time buyers an opportunity before investors and non-profits, but at the end of the day some houses have a very slim chance to be purchase by home owners because of the condition or location or both.

[Dr. Marqueze D. Williams, Sr, NRBA]

That's correct Chris. I was wondering if that would change too but it seems as if they kept it the same.