A home that has gone into mortgage default with a loan that is insured by the Federal Housing Administration (FHA) is referred to as a HUD Home. It’s also important to understand that the availability of HUD housing varies from location to location. HUD does prosecute investors who have been caught buying in the owner occupant period. On some aged assets, investors are getting HUD homes at 50 percent or less of the list price.
The following information is provided as an introduction to the process through which HUD homes can be purchased. The buyer is also encouraged to have a professional home inspection performed with the utilities activated, AFTER the contract has been accepted and signed by HUD.
While buying a HUD Home can save you a lot of money, there are some things to watch out for. With our service, you’ll be able to find all kinds of …