Hello, we just picked up a HUD house. Pretty good deal but it’t very dirty and has some problems that will probably require about 2 months of rehab at least. The agent wasn’t able to explain to me how is the owner occupant status verified by HUD. I know I have reside for at least one year and cannot buy another HUD for 2 years.
Does anybody know how it looks in practice? Does one year period of occupancy count from the purchase date or “move in” date?
Thanks a lot guys.
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