Search for:
what is a "HUD" home
Include any additional details about the question...
150 characters left
Answer Tips: Share your knowledge. Be on-topic . Refrain from self-promotion.
* Refer to our community guidelines.
* Refer to our community guidelines.
Answers
Viewing Answers 1 - 4 of 4
A "HUD" home is one that is owned by the "Housing and Urban Development Organization" These homes are typically offered at a sale price much lower than the comparable properties, that's why it's so difficult to actually get into one of these homes. Also, there are some sources online that only handle HUD homes, if that is what you're looking for. Hope this helps
A HUD home is a home that has an FHA Insured Mortgage that has been through Forecloser. All offers are done through bidding on line by a licensed Real Estate Agent. I would be happy to assist you with any other questions you may have in your search for a home.
A HUD home is a home owned by the Government. You must contact a HUD approved real estate agent. Submit your offer at a certain time period for review. Most homes need some repairs.
Here is an answer right from the HUD website: "A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim."
There are a lot of HUD homes out there, and the offer and sales process differs somewhat from a "normal" purchase and other bank-owned homes. I'd be happy to help answer any other questions you have and help you find a new home.
Top Q&A Contributors
- Richard Stewart
- REO Specialists llc
- Kalamazoo, MI
- View My Profile 1 answered question
Please read Homes.com's Questions & Answers Community Guidelines.
