HUD foreclosure financing (loan, mortgage companies, finance, loan)

[ognend]

We won a bid for a manufactured home on 5+ acres in Central Texas. Does anyone know how long it usually takes to get the financing through between the moment HUD signs the contract and closing day? I have heard that these days it can take 45-60 days (which I find to be crazy!)

Thanks!
OD

[joe2k]

Normally 30 days if you had started the process with a mortgage company before your bid.

It is important to make sure you have an appropriate finance company.

Not all mortgage companies are setup to handle repairs as part of loan process.

Hope you closed and in home!

[Pfhtex]

Manufactured home lenders are few and far between, and everything I've heard is that they do indeed take 2-3 months.