Posted by gerald(tx) on September 24, 2004 at 13:50:48:
Thanks for verifying this, John. I will now proceed knowing that it can be done.
Funny, last year HUDs were overbid in our area also, with all the newbies and the easy credit. I blew off the idea of a HUD. But strangely, in the last couple of months I’ve seen bargains of like 85%. So not only is is an area thing, but apparently a cyclical thing also.
Now watch next week all the realtors will have gotten wise and bring their clients in, and we’ll be back to 110-120%. Hope I can be faster on the draw.