#2652, "RE: Get rich quick scheme: Buying and reselling foreclosed houses" In response to In response to 9
Originally posted by eclpsmoneypit95 What are VA and VHA/HUD foreclosures and how do they differ? I should just be searching this stuff on yahoo or google but what do you guys think? If you had a chance to do it, would you? In the long run it seems really promising but to get to that point requires a lot of hard work.
It depends on where the loan originated from, or who owns the loan/note. VA (Department of Veteran Affairs) forclosed homes come from either VA or Ven Dee (sp?) loans. Same with FHA (Federal Housing Authority) as it comes from an FHA loan. I don't really know much about HUD (Housing & Urban Development) except it's government related.
I do plan on doing this, eventually, just trying to get my finances in order, first.
However, the house I signed on a few days ago was a rent house for the last 25 years. The current owner spent $20k+ to get everything fixed and ready to sell within the last 6 months. Granted, I'm sure they made their money on it, but that's quite a bit to come out of pocket to sell it.
~Luke Facebook 1969 Cougar - 11.91 - 380HP 2007 GSXR 750 1999 OZ - SOLD - 15.26 NA - 14.71 on 75 shot
