Atlantic City HUD properties

[Paul Stewart]

So I'm a bit confused about HUD houses in Atlantic city NJ. I have seen several of them and was interested in submitting a offer on a few. My lender informed me that I do not qualify as a HUD buyer because of my income and the property will be a second home ( future rental house) . Other people in NY have told me you can buy a HUD home but it depends on timing. I have google'd it and have not found a real answer or it seems a little different in other area's. So was wondering if anyone had first hand knowledge of HUD homes in Atlantic city NJ or even any where in NJ? How can a Investor purchase a HUD home? Any type of insight would be great.

[Greg H.]

There are no income requirements on HUD home purchases.

If you purchase during the exclusive period you must owner occupy the property for 1 year as your principle residence.  If you purchase during the extended/investor period there are no requirement to occupy