View Full Version : HUD Laws?



circuitboard
07-25-2013, 08:26 AM
Anyone in here familiar with HUD laws and who to contact to notify of potential illegal transactions?

My concern is my own neighborhood. A forclosed home, was put on the market via HUD. From what I understand, Investment companies and rental house companies can not purchase HUD home, it supposed to be owner occupied. Well I have discovered evidence that the investment company, had an employee purchase a HUD home in my neighborhood and then turn around an sell it to the investment company, and got a little extra cash on the side for doing so. Thus now the house is a rental house that is not being taken care of. In addition the owner of the investment company, also purchased a HUD home as "owner occupied" and 6 months later sold it to his investment company and is now a rental house.

Is this legal? Anything I can do, or appropriate person to contact to report this? I don't want to see property values come down because of some scum businessman.

Jersey Boss
07-25-2013, 03:25 PM
HomeOwners for Better Building - KFOR News4 - Convicted State Senator paid HUD Funds? (http://www.hobb.org/index.php?option=com_content&task=view&id=548&Itemid=89)

Kinda like this?? (courtesy of mmm from another thread.)

circuitboard
07-26-2013, 09:46 AM
HomeOwners for Better Building - KFOR News4 - Convicted State Senator paid HUD Funds? (http://www.hobb.org/index.php?option=com_content&task=view&id=548&Itemid=89)

Kinda like this?? (courtesy of mmm from another thread.)

So it sounds like what this guy in my neighborhood is doing is illegal.

Midtowner
07-29-2013, 09:02 AM
Just filing a simple police report should get the ball rolling.

Or try this:

http://portal.hud.gov/hudportal/HUD?src=/program_offices/public_indian_housing/programs/ph/rhiip/uivreporting

Servicetech571
08-05-2013, 05:29 AM
I think most HUD homes are ultimately bought by investors.