Take a minute or two and read this article! Make sure to pay special attention to the new “servicer” requirements on these bad loans once repurchased. Servicers must be purchasing at some extraordinary prices to agree to hold the home from foreclosure for a minimum of 6 months from time of purchase to work with homeowners to avoid foreclosure.
http://www.housingwire.com/news/2013/05/03/hud-sell-40000-distressed-loans-2013
