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Updated 5 months ago on . Most recent reply
Subject to deal with Hud Loans
I am looking into a subject to deal but it has 3 HUD loans. I talked to the person selling the contract and they mentioned that those hud loans have to be paid at year 2051 or if you sell or refinance the house.
In the meantime there is no interest or monthly payments on those HUD loans. Is this true?
the loan balance is 155k and it shows on the mortgage statement but there are 24k worth of HUD loans which the total unpaid balance is around 175k
Most Popular Reply
Nicholas L.
#5 Out of State Investing Contributor
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#5 Out of State Investing Contributor
- Flipper/Rehabber
- Pittsburgh
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Nicholas L.
#5 Out of State Investing Contributor
Pro Member
#5 Out of State Investing Contributor
- Flipper/Rehabber
- Pittsburgh
if you have to ask random people on the Internet... pass