$100.00 Down HUD Deal Cancelled

Back in August 2008 I wrote a post (And You Really Thought You Can’t Get a Home with $100.00) about FHA HUD homes
having a special deal on certain properties that allowed only $100.00 down.  Well Folks FHA and HUD have decided to cancel this
program for the time being. The marketing company for Hud homes is Arizona is www.mcbreo.com.  They announced on
July 19, 2010 the incentive Expiration for Arizona and Nevada.

from mcbreo website: ” HUD’s $100 Down payment initiative will expire on July 31, 2010.  The $100 down payment was
for owner occupants (Any individual who purchases a HUD home as their primary residence for at least 12 months after
closing and who has not purchased a home from HUD as an owner occupant in the past twenty four months) purchasing a
HUD Home with FHA financing. This incentive will continue to be eligible for all contracts signed by seller by
July 31, 2010.  Contracts signed after the July 31,2010 deadline will not be eligible for the $100 Down payment incentive.”

This program was a good help to many buyers, and I am sad to see it disappear.  It seems like there are fewer and fewer
options for homeowners.