HUD homes are foreclosed properties that were originally purchased with FHA loans. Residential properties become HUD homes when a homeowner is unable to keep up with their monthly mortgage payments and defaults on their loan. ... Any buyer who has the funds or can qualify for a loan is eligible to purchase a HUD home. There are deals to be made. BUT, as with any foreclosures, it isn’t for the faint at heart.
Frequently Asked Questions:
What is a HUD Home?
A HUD home is a home that was purchased with an FHA insured mortgage and later foreclosed. The foreclosing lender then conveys the property to HUD.
How can I see available HUD homes?
Please visit HUDHomestore.com to see a complete list of HUD Homes available in your area. If you see something of interest, any real estate agent can show you the home.
How do I make an offer on a HUD Home?
HUD Homes are sold through an online bidding process. In order to place a bid, contact your real estate agent and we can walk you through it. The bidding process is quick and easy.