A HUD home is a 1-to-4 unit residential property acquired by the Department of Housing and Urban Development (HUD) as a result of a foreclosure action on an FHA-insured mortgage. The good news is there are lenders that can do this and VA Buyers are now able to feel confident purchasing HUD HOMES. Investors should always try to get their bid into the system on that 6th day because HUD homes tend to fall out of contract more than other properties.
Whether you are an experienced investor or new homebuyer, buying foreclosed properties from the United States Department of Housing and Urban Development (HUD) is a great way to make money in the real estate market. Investors can bid on HUD homes on the 16th day for insured properties and on the 6th day on uninsured HUD homes.
The exact amount is specified in the HUD listing and disclosed in a document called Property Condition Summary. Search all HUD homes available in Indianapolis and contact us for more information about buying a HUD home @ 317-732-2319. Only Real Estate Brokers that are certified with HUD can assist you with buying a HUD home.
I am also interested in learning more about HUD + foreclosed homes but primarily focusing on multi families. I am not set on New Orleans market either, I will be moving eventually-I just want to understand that HUD homes so if I move to another market I can begin looking at that markets HUD homes.
Owner Occupant – Eligible owner occupants are individuals with a valid SSN who have not purchased a HUD property with the past two (2) years. I have been researching HUD homes and have found a few good condition single family homes (3 and 4 Bedrooms) in the 50k-70k range.