Department of Housing and Urban Development (HUD) residential foreclosures are available throughout the United States. A HUD home is when a government-insured loan (FHA) gets foreclosed and the Federal Housing and Unban Development pays the defaulted loan off, and then puts the home on the market. HUD ends up selling a great deal of foreclosures throughout the country every year, and for buyers and real estate investors, they can be very profitable purchases.
The homes are owned by HUD and first offered only to full-time educators and emergency responders who serve these areas. Homes are first offered to approved non-profit organizations, mostly in inner-city neighborhoods, at a 50 percent discount to their appraised values.
If, after five days, no teacher, officer or Katrina victim makes an offer, HUD puts the properties on auction for the general public. HUD Homes may be purchased by any individual, company, HUD-approved non-profit organization, or government entity that can secure financing or pay cash for the property.
There are no representations or warranties, expressed or implied, on any HUD property. Learn more about HUD homes from the source at and about Buying HUD Homes or contact me- I welcome all questions. HUDHomeStore -search HUD Homes for sale nationwide by city, county, price and more.
A HUD property is a residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. And while many homes need extensive repairs others come to the market in very good shape. HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.