Posted by phil fernandez on April 11, 2003 at 10:25:10:
Don’t even think about tricking HUD. And HUD does follow up on the purchase. You better be living in the house you bought as an owner occupant when HUD comes calling.
Buying HUD repos as investor… - Posted by David Krulac
Posted by David Krulac on April 11, 2003 at 09:34:25:
but listing your self as owner occupant is a no-no…
“Warning: Submission of a bid from an Investor on an Owner-Occupant Priority property, knowing the same to be false, subjects the person placing the bid to a possible $250,000 fine or two years imprisonment or both, as per Paragraph O of the Conditions of Sale on the back of the HUD Sales Contract.”
from HUD contract submission.