About Buying HUD Homes
I had a lady call me earlier today and ask me about HUD homes. I figured a few more people were interested in them so I hope this helps.
What is a HUD Home?
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.
Who can buy a HUD Home?
Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.
If you are an evacuee displaced by Hurricane Katrina, Rita or Wilma, HUD could sell a HUD home at a discount to you!
For more information about HUD go to:http://www.hud.gov/offices/hsg/sfh/reo/reobuyfaq.cfm.
If I can be of any help with questions or the purchasing of a HUD property please call me at 405-850-6282
Comment Notification
Subscribe to this post's comments using