Buying a HUD home and need Escrow company to handle the case urgently

Asked by Lucky 7, Lakewood, CA Mon Mar 18, 2013

Hi,

I am getting a Hud home and my agent just told me that Hud fire the escrow company due to some lazy work the escrow company did. Is it normal? Can someone recommnad me a good escrow company specialize to handle Hud home? Appreciate it so much

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Kawain Payne’s answer
Kawain Payne, Agent, Seal Beach, CA
Fri Apr 19, 2013
You do not need an escorw company SPECIALIZED in HUD homes, in fact there may not be any.

You just an escrow company that DOES HUD sales. Your agent should be able to get one for you.

I know HUD recently changed their policy, and now tha buyer MUST selcet an escrow company.

Best of Success to You!!!

Kawain Payne, Realtor
0 votes
Roberto Gosim, Agent, Carson, CA
Mon Mar 18, 2013
The best person that can help you is your agent. A lot of us Realtors use escrows that can handle any kind of transaction. But since you're asking here I recommend Mariposa Escrow in Cerritos.
Contact: Cecilia Bibera
Escorw officer
Tel: (562) 402 4000
Good luck!

Roberto
0 votes
Glenn Gaspar, Agent, Signal Hill, CA
Mon Mar 18, 2013
Hello, I just performed a HUD search for properties in Lakewood, CA and could not find any. In all honesty your question does not make sense for such a large organization would always have a list of escrow companies which they would revert to. Not once have I ever heard of HUD asking the home buyer to select an escrow company for that could be even worse. You may want to investigate this on your own for your agent may not be telling you the whole truth. Visit this link so that you can obtain information on HUD contacts: http://www.hudhomestore.com/Home/Index.aspx
0 votes
I actually found the house on the Hud website. It's very rare that Hud fired the escrow company that they agree to use. My concern right now is how and where I can find an escrow comapny that can take over my case and know how to deal with Hud. My agent asked me to use his but I don't trust him that well after all the BS story. Thank you for your info Glenn.
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