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.
This information and more can be found by going to http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/reo/reobuyfaq.
If you find a home you are interested in viewing and possibly putting in a bid from the hudhomestore.com website, I will be glad to help or refer you to an agent in your area that can. Call Kim Reynolds, Coldwell Banker Snow & Wall at 615-556-1511 cell or 615-893-1130 office for more information. You may also reach me via email at firstname.lastname@example.org. Act quickly-you don’t want to miss out on these deals.