Listings under the new HUD selling system have started to appear in Indiana. Those homes are managed by PEMCO. There are still homes available from the prior management company, HMBI, but those are expected to transition over to the new system soon. Under the new system, owner-occupants have priority for the first 30 days of a listing. All of the remaining homes marketed by HMBI are available to either investor or owner-occupant purchasers.
With several banks freezing foreclosures in Indiana and some bank-owned properties being withdrawn from the market, we know that all homes that have been through a foreclosure will be watched carefully. We will try to stay on top of news about this. In addition to working with buyers on Indianapolis Area HUD Homes and foreclosues, we can also work with new homes, builder spec homes, short sales and regular listings.