Posted by Irwin on April 15, 1999 at 07:07:36:
You can use any kind of lender you wish; however, you have only 60 days to close HUD sales, so be sure where you stand with the lender before you go bit. Otherwise, you stand to lose a $500 earnest money deposit on any deal that you don’t close.
This information is subject to change now that HUD has transferred it’s REO function to private contractors. In my area the contractor shut down all sales on 3/7 and hasn’t opened them up, so nobody knows what the new rules are yet.