HUD Programs

evol200

I've heard of the government giving grants or some assistance to homeowners who own up to 4 properties.
I am very curious about the Neighborhood Assistance Program that either gives Grant Money or a Government Loan at a fixed rate. To help distressed homes and maintain property value and meet safety requirements. This program, Supposidly, is set aside for people who have faulty roofs or foundations or structural problems that are to great for people to pursue themsleves. Or these people didnt know about the problems until 2yrs after the purchase of the home~(Which would be my case.)
Has anyone ever had any success with a HUD Assistance Program?
I am very curious about this, I have been to some seminars about this and my partner is running into some issues pursuing the route. If not, WHY would a Program like this exist if people arent able to use this Government benefit that is available to everyone.

Thanks in advance, any all answers is welcome. I need to get to the bottom of this.

JMD

Not sure if this is what you are looking for or not but it sounds close. http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm

evol200

thanks, I know about the HOPE program and thats apart of HUD, but I'll look into this and study it more. I think were running into some scam artists and I want to avoid giving money at seminars.

DangerMouse

look into the CDBG.... (community development block grant)
THAT one worked for us to the tune of $25,000 at our old place.
new roof, siding, some elec. work done, etc.
no payback either......

DM

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evol200

The 203(K) program is out of the question. Because my partner has spoken with a HUD associate and a Wells Fargo Lender who specializes in some Gov't Backed Loans. What they are saying is, we're considered investors, even though we own just one property. But my biggest grype is, we didnt know about this foundation problem & how serious it was. We already exhausted the avenue of going to the Registrar of Contractors to file a complaint, we got a couple thousand out of it. My original suggestion was to get actual bids on it and go with the highest one, even if it had to go to court at least we'd have the assurance the problem would be solved the right way. My advice wasnt heeded and my partner made a serious mistake, cause if we dont qualify for anything, then this is an out of pocket cost for me. Its a real bad deal on my part, especially because I know some of the laws on this.

I live in AZ.

evol200

No luck, It looks like I'm going to have to brace myself after all for this cost. Most of these programs are for Individuals who live in their homes, people who have no running water or commericial properties. Sucks, cause sooner or later I want to be rid of this property and this issue has to be resolved.

If anyone has any other ideas or maybe I'm missing something, please help.