Upcoming Foreclosures

Has anyone bought a house with Hud's $100 down program?

I'm in the middle of buying a foreclosure with hud's $100 down program. I was told hud will pay my closing costs at %3 of the purchase price of the house which is $57,000! My earnest money was $1000. I found a real deal on a nice home. The process has just been too easy and I'm nervous. I feel like something will bite me in the butt at any moment! I'm wondering what to expect at the closing. I don't want to be hit with any unexpected costs. Has anyone gone through the process?

Public Comments

1. question, how did you find the foreclosure, I am looking, but just make sure there are no points on the back end of your loan, sometimes brokers or whoever might be handling the loan might structure it so it looks good on the front end of the loan, but will add a point or two to the back end of the loan to make a couple thousand and take it out of your pocket. always always always get a good faith estimate before you go with a broker or anyone giving you a home loan, and always aask for a truth in lending statement always. dont believe them if they tell you they dont give those or cant. run away if they do. there may be organizations that could help you see if you are getting screwed, because i cant review it for you unfortunately. good luck, and let me know about that foreclosure if you can. thanks!