Nearly 1.2 million families purchase homes each year with loans insured by the FHA. These families rely on the FHA property appraisal for important information about the value and physical condition of the homes they are buying. In June 1998, HUD announced its Homebuyer Protection Plan to ensure that homebuyers receive accurate and complete appraisals. The plan also promotes the benefits of home inspections for consumers. On June 10, 1999, HUD Secretary Andrew Cuomo announced the elements of the plan which will be phased into effect nationwide.

For further information regarding the new forms and additional requirements under the plan, please visit HUD's Real Estate Assessment Center website at www.hud.gov/reac/reasfappr.html.

General Information

• Press Release 99-99
• Press Release 98-206
• Homebuyer Protection Plan FAQs

Related Links

• Housing Counseling
• Consumer Home Inspection Kit
• American Society of Home Inspectors
• Single Family Loan Production: Handbook 4150.2 - Valuation Analysis for Home
• Single Family Loan Production: Delayed Effective Date for Use of the new
• Single Family Loan Production - Termination of the CHUMS Generated Appraiser
• Single Family Loan Production: Clarifications Regarding the Homebuyer

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Last Updated: June 10, 1999