On Sept. 17, for the first Friday in years, there were no new HUD listings. HUD is phasing out the present contractor, HMBI and will be working with new companies moving forward. So what does this mean for the home buyer? Here are several things to note:
- HMBI is still responsible for the sale of remaining homes. As of Monday Sept. 20, there were 461 homes for sale in Indiana. After bids results are posted in the afternoon, ALL homes will be available for bidding by investors as well as owner-occupants.
- When the new listings begin with the new contractors, owner occupant priority will increase to 30 days for homes eligible for FHA Financing. (Categories IN and IE)
- When the new listings begin, owner occupant priority period will decrease to 5 days for HUD Homes that are not eligible for FHA financing. (Category UI)
- Homes will be able to be listed any day of the week. Homes will no longer just be listed on Fridays.
- Information about all HUD Homes in the country will be on a new website, hudhomestore.com
We can supply you information about the remaining HUD Homes available in the state of Indiana. With the new system, it will be a learning process for everybody involved. For more information you can call my direct number at 317-709-2537. We are a brokerage registered to sell HUD Homes, but we and this site are not in any way affiliated with any government agency.