FHA Expands Real-Estate Owned Property Purchase Opportunities for Owner-Occupant Buyers
Industry Update
January 13, 2022
Source: HUD.gov
The Federal Housing Administration (FHA) on Thursday announced it is increasing its exclusive listing period on certain HUD single-family real-estate owned (REO) homes to allow more time for owner occupants, HUD-approved nonprofit organizations, and governmental entities to submit bids for the purchase of these homes before they become eligible for purchase by investors. This expansion is the latest action consistent with the Biden-Harris Administration’s housing supply announcement on September 1, 2021, that it would seek to make more HUD-owned properties available to owner-occupants and non-profit organizations.
For full report, please click the source link above.