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All Forum Posts by: Minh Vu

Minh Vu has started 1 posts and replied 3 times.

Post: Subject to deal with Hud Loans

Minh VuPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 3
  • Votes 0

Purchase price is 200k 

loan balance is 155K on mortgage statement but with the HUD loans it would add up to 177k including entry fee that would put PP at 200k


Technically they are saying I'm only paying on the 155k the other remaining HUD loan that equal to 24k that is paid 2051 or when refinancing or selling this house

Post: Subject to deal with Hud Loans

Minh VuPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 3
  • Votes 0

Thanks everyone for the help. Here are the numbers and info about the HUD loans

Post: Subject to deal with Hud Loans

Minh VuPosted
  • Rental Property Investor
  • Austin, TX
  • Posts 3
  • Votes 0

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