Posted by Nate(DC) on March 06, 2002 at 14:43:28:
I would advise you not to try to “get around” the HUD owner occupant regulations. Some HUD properties are listed owner-occupant only, and others are listed for all purchasers. If you are not going to owner occupy, you cannot bid on the owner-occupant units. If you lie, that is called defrauding HUD and you could face serious penalties. Not recommended.
On your second question: call the local Housing Authority. They will be able to help you.
NT
HUD/SECTION 8 - Posted by anaNJ
Posted by anaNJ on March 06, 2002 at 13:46:35:
I have two questions. The first one is: How can I get around HUD’s owner-occupant restrictions on foreclosed properties. There are a number of properties that I would be interested in buying and renting out, but HUD’s restriction prevents me from doing so.
My second question is regarding Section 8. Who should I contact if I would like to rent out an apartment to a section 8 tenant. Is there a number in the phone book I should know about? How do I screen tenants, do they have a file? Have any books been written about this subject matter? I live in northern NJ. Thanks for help.
Re: HUD/SECTION 8 - Posted by Robert (NC)
Posted by Robert (NC) on March 06, 2002 at 19:43:54:
Just run an ad for the rental that says ‘section 8 welcome, must have vachour’ you’ll get a ton of calls, screen them just like any other tenant, however, most but not all will have bad credit… Not all section 8 people have bad credit or bad employement records. but just like any other tenant screen, screen, screen.
When they show up, they MUST already have the voucher, if not most likely they won’t be able to get it… they can tell you who to call to get to come out and inspect the property…
good luck…
Robert