Posted by Arthur on August 22, 2003 at 06:57:39:
It means he is on low income and has a subsidied loan. Each year, they check his income, and if it goes over the limit, the subsidy stops. You would not be able to assume the loan at 1%.
is this HUD for real? - Posted by tranbient
Posted by tranbient on August 20, 2003 at 15:00:12:
A guy I am talking to says he has a HUD loan issued back in 1992 or 93. What does this mean? He is disabled. Will HUD still guarantee it? He says it is for a thirty year at 1%. What is this all about?
G