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Why does HUD not give Vets a break with a VA/FHA loan?

We just tried to buy a house here in Roanoke Va. $67,000 cheap I know. The listing agent was not clear in advising that a LEAD paint home will cost us more money if the company that removes the LEAD paint for the HUD sale is over $4000. Oh yea ...Before I knew this - they had me sign a lead-based paint disclosure addendum that stated" seller has NO record or reports pertaining to LEAD based paint and/or lead based paint hazards". What a crock. They should have been up front about it. This house has been sitting forever - like they did not know? We are first time home buyers that were knocked over with their little disclaimers. .  All of these HUD homes can sit and rot before I ever try again.  Maybe if I was not from this country I could get a better deal. HUD thanks for helping our Vets, Really Thanks!  I hope some family that is not from this country and has not paid taxes all 49 of my years gets a great deal from HUD and Obama. Can someone find us a home? Would you like to be our agent? Maybe we should have one.
  • March 05 2011 - Roanoke
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Answers (1)

Looking,

Was this house built before 1978?

Lead paint was used until 1978 and every home built before 1978 must by law disclose the lead paint - this is for your protection.

Most people do not mind the paint too much as it was painted over many times by now and, if not disturbed, is not a health hazard.

However, many families with small children prefer not to reside in an older home because of the lead paint problem.

The purpose of the Lead Paint Disclosure is to disclose the existence of lead paint in the house. It may seem on the surface like an excessive paperwork, but think of it this way: if it weren't for the Disclosure, many buyers would NOT be made aware of the existence of the lead paint in the house.

Seems to me like a miscommunication between you and the listing agent. Of course, it was the listing agent's duty to disclose the lead paint and communicate it effectively to you, the buyer. 
  • March 05 2011
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