Hawaii Randy's Real Estate Opinions: HUD Jammed Us Up Again

HUD Jammed Us Up Again

On Tuesday a letter was issued by HUD letting us know that the $8000 first time home buyer's credit could be used for down payments for FHA loans.  A few news stories broke out immediately following that exciting news.  At least we thought it was exciting news.  Within a couple of days the story reversed.  Never mind, HUD withdrew the letter.  They were only kidding.

After sending out what I thought was exciting news, I had to send out another message a day later to my clients and fellow real estate professionals, letting them know that the HUD letter and information I sent out was not accurate.

THANK YOU, Jeff Belonger!  Jeff the FHA expert who posted a blog article that did a wonderful job of clearing up the confusion created by HUD: 

Using First-Time Homebuyer Tax Credits for the Downpayment - It's GONE !!!! - The story of the $8,000 tax credit  

 

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Randy L. Prothero, REALTOR®

Broker-in-Charge, ABR, AHWD, CRB, CRS, e-PRO, GRI, MRP, SFR

eXp Realty

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.  His luxury home listings sell faster and for more money.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

Comment balloon 13 commentsRandy Prothero • May 14 2009 02:07PM

Comments

Randy.. long time no speak.  Hey, not only thanking you for the polite & kind introduction, but for getting the word out.  I am hearing it's like the worst traffic jam in Los Angeles's history...  lol  Thanks to such quick news outlets such as Twitter and Facebook, .. besides blogging.. I heard that were like 500 tweets yesterday,  just within an hour about this.  thanks

jeff belonger

Posted by Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc) about 9 years ago

Jeff - I am on information overload between Facebook, Twitter and LinkedIn.  I am beginning to feel like I need to pull back and focus more here on the blogs.  We get the same information and more complete.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) about 9 years ago

Randy...Thanks for the update.. My loan professional was telling today, that this may not be totally accurat.  (the loan part). Need to wait and see.  Thanks and good to hear from you!

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) about 9 years ago

Randy, the Obama Administration needs to think thing through a little more before making announcements like this.  While the it must of been nice for them to get all of the initial positive publicity, I don't think that the publicity to follow will be as kind.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 9 years ago

Randy- Yeah, I kind of got that idea when I first heard about it. Thanks for clearing it up and of course to Jeff who writes such great posts getting all the facts straight.

Posted by Katerina Gasset, Get It Done For Me Virtual Services (Get It Done For Me Virtual Services ) about 9 years ago

Randy - Thanks for sorting helping to sort through the fact and fiction - and thanks to Jeff too1  

Posted by Carol Culkin, Overland Park (Reece & Nichols) about 9 years ago

William - This is a great example of how this forum is so helpful to us.

George - I am wondering if this is common for HUD or just in this administration.

Katrina - Jeff was on it real fast.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) about 9 years ago

Carol - You are welcome.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) about 9 years ago

Randy,

Really a stupid way to make people get excited and then disappointed all in one sitting....I wonder if that was the same guy who gave the order to fly the plane over NY City for publicity.

Posted by Neal Bloom, Realtor CRS-Weston FL Real Estate (eXp Realty) about 9 years ago

Neal - I am sure we will be seeing more of this kind of non-sense.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) about 9 years ago

Randy

 Now I am more confused than ever. I actually had local lenders telling me this was a done deal in some states.

Posted by Trey Thurmond, College Station , Texas Homes (BCR Realtors) about 9 years ago

I got lucky, I've gotten tired of the government and their quick reactions and not thinking things through, so I waited before telling my clients about this and boy am I glad I did.

Todd Clark - www.LivingBeaverton.com

Posted by Respect Realty LLC, Brokers - Oregon / SW Washington Real Estate (Respect Realty LLC) about 9 years ago

Trey - There are lenders sending out this out still this week.  I think everyone is confused.

Todd - I wished I would have waited a couple of days.  I wanted to be the first to tell them.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) about 9 years ago

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