Backing out of HUD deal after 15 days

[Pat Jackson]

In short I put a house under contract with HUD, went past my 15 day inspection period, and want to back out before the 30 day closing. The house doesn't have a meter, and the utility company still hasn't installed one. Without the power on, my inspector can't do his thing. He says the A/C is old, and likely needs replaced.

Anyway, my realtor has spoken with the listing agent. She said that HUD is going to have me sign a release, however they won't let me bid on houses in the future. Will they follow through with this? Is it indefinite?

HUD isn't impressive, I'm not sure I have faith of them even keeping track of my name....