I see, so much for government preaching "green".

With HUD it depends on many things when purchasing.If for instance the purchase was part of the good teacher,police firefighter etc. with the discount you have to live there so many years period or you will have to repay some money.Also if your buyer bid during the owner occupant only period to get the property and will never move in that is fraudulent.Investors frequently use to do this to not wait until the investor period came.It is a crime to do this now.Some would also say they were living there to get an owner occupant loan with a lower rate.This is committing mortgage fraud.Many do things to ride the line everyday and some get burned and others do not.I wouldn't want to be on the governments radar though.So without knowing the specifics of how the transaction went down it's hard to say.If the title company says 2 years and they do a lot of HUD then I might take that at face value.I have seen HUD go out to properties before,check where mail is sent to for taxes,etc. after they were bought.

I like commercial because there is not as much competition for it.You can structure a deal more creatively and there are more different types of lender loans than for residential.Residential is highly regulated by the government now.Commercial I don't want the government messing it up as well and squashing creative financing.I like commercial for economies of scale and ramping up larger transactions.You can make money in residential it is just not my thing.I like retail and multifamily.Medical will be hot for many decades to come as well with the boomer generation retiring.I don't care much for industrial but I am seeing some transition areas where a developer takes an industrial shell of a warehouse leasing at 2 sq ft.They put improvements in and get rezoned to mixed use retail and get 15 sq ft lease rates.

If you REALLY want to know what you can or cannot do with regards to checks - lookup Article 3 (negotiable instruments) of the Uniform Commercial Code (UCC) as implemented by your state.The UCC is a recommended model set of laws for governing commercial transactions.

If the landlord does not do this in 30 days, the tenant can sue the landlord for double the amount of anything that was improperly withheld.In other words - always look at your state statutes governing landlord-tenant relationships because there may be some surprises in there.

I'm imagine they will be auctioned eventually like most government seizures.As of right now they are probably considered evidence & will be held as such until the court hearings are over.

There seems to be another wave of foreclosures coming but I guess the wildcard is whether the government/banks finally decide to do something real with the mortgage modifications.

Down the rabbit hole: spending all day tracking down a property "owner"20 Calls later, with no less than 10 government agencies tacked on to the end, I end up with a final "I don't know what to tell you sir, we down own that property."

That said, I'm sure they are not all leeches on the government who have figured out how to work the system for their job.

I rented to a lot of section 8 in the past and even though the income is good and steady from the government once they lose their housing or trash your place then you are stuck chasing them.