HUD Listings For Owner Occupants Question

by | Feb 25, 2011 | Brokers, Buying, Foreclosures, Investors, Realtors | 0 comments

Question:

Mike, there are some foreclosures we can not bid on because it goes to potential homeowners first. Isn’t that discrimination? Can they get by with it?

Thanks Mike,
Farril

 

ANSWER:

Great Question Farril. Sorry, but you lose on this one.

HUD has been doing since I started investing decades ago.

“Investors Are NOT a “Protected Class.” There are only 7 protected classes in the federal fair housing law.

For example, you could have a policy for your rental properties forbidding attorneys or police officers… perfectly legal.

You  might not like it Farril, but it is OK for them to allow “Owner-Occupants” first shot.

 

To Your Continued $uccess!

Mike Butler