House Hackers! It looks like HUD is doing $100 down again

[Jason Taliaferro]

It looks like HUD is doing $100 down program. This program looks good if you don't' have a lot saved and can buy a HUD foreclosure to live in, fix up, and flip or rent in a few years. Anyone have experience with these. If so post a comment about your experience. Also If I got something wrong please let me know.

Pros:

• $100 down gets you in.
• Regular FHA lending requirements.

Cons:

• Only HUD foreclosures.
• Have to occupy the house.
• Have to give a full price offer.