Home Buying in Mishawaka>Question Details

Dan, Home Buyer in South Bend, IN

Does HUD pay for necessary living necessities?

Asked by Dan, South Bend, IN Sat Sep 29, 2012

I found a nice HUD house but there is a BIG problem. The previous person that bid on it backed out because of the inspection being a BIG problem. The inspection has: PER THE HOME INSPECTION REPORT, THE WELL/SEPTIC SYSTEM FAILED THE COUNTY HEALTH DEPARTMENT
INSPECTION. LENDER HAS THE OPTION TO ADD THE
REPAIR COSTS OF THESE ITEMS TO THE EXISTING REPAIR ESCROW.

The well would need to be replaced as well as the spetic. Water and waste are a major necessity. Is there a way to have HUD pay for those big repairs? The house is listed at $110.00.

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Answers

1
you can ask for necessary repairs. our local bank will escrow for up to 5000 in repairs if allowed by hud so it all depends on how the offer is written and what your lender allows. If you get a FHA 203k you can easily work a large repair in the loan. This will all be done with your realtor and and a lender.
Please call for more specific information.
0 votes Thank Flag Link Wed Feb 13, 2013
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