GA DREAM NSP IS BACK
Friday, July 16th, 2010Funds are now available for a VERY SHORT TIME!
If you have buyers interested in purchasing foreclosed properties now is the time. The Tax Credit rush is over and underwriting turn time has been reduced to five days.
* There must be a HQS Inspection on the property
* Buyer must receive 8 hours of face to face Home Buyer Education Counseling from a HUD approved counselor
* NSP Funds CANNOT be used for closing costs – so seller will need to contribute to closing costs for the buyer
* The home must be in an eligible area
* The property must be foreclosed and a REO owned by an eligible entity
* Borrower needs some “Skin in the Game” – at least $1500
* Repairs can be done after closing
NSP Loans must be approved by underwriting and an approval letter stating “Firm Commitment” issued no later than September 3, 2010.
Thanks you from: Amy Wilemon
