what does it mean if my mortgage broker said that she has been talking with an investor to help in the?
process of my FHA loan? I been approved for a fha loan and put a bid on a foreclosed house that cost $28,000. She mentioned something about HOPA and a investor buying it...What does this all mean and why would a investor need to buy the house if it's bank owned and the repairs are minor and I made an offer on the house?
Answers (2)
Jay:
Here is a link about HOPA
http://www.hud.gov/offices/fheo/seniors/hopa.pdf
BEST ANSWER
She means an investor buying your loan. Since she is a broker and not an actual bank, she is acting as a middleman between you and the actual bank (or investor) funding the deal.
Didn’t find what you were looking for? Ask a question!
More Q&A about Home Buying in 44077
View all »
Ask a question
Got a real estate question? Get answers from locals, experts and real estate pros.
Email me when…
View all »
1 - 3 of 15
|
|
|
|
|||||||||||
|
|
|
|
|
|
Copyright © 2009
Trulia, Inc. All rights reserved. |
Fair Housing and Equal Opportunity
Fair Housing and Equal Opportunity
Help us improve our service—send us feedback