Hello Austin.   I realized that amongst the many post I have written I haven’t taken the time to write about HUD Homes.

There are so many things when it comes to HUD homes I don’t know where to start.   Lets begin at what exactly HUD Foreclosure is. The Federal Housing Authority is an organization of the U.S.
Department of Housing and Urban Development which insures certain mortgage loans.  When a borrower defaults on a loan HUD repays the balance of the note and the title reverts to HUD, which in turn becomes a HUD foreclosure.

Now buying a HUD home is different from the typical purchase.   On most HUD home purchases you will be competing against other potential buyers during a “buying period”.  Once this buying period ends it’s oh so important to follow all the procedures and policies set forth by HUD, or you might find yourself without the house you just bid on, or without the earnest money.

There is so much more to the buying of a HUD property that just one simple posting can’t sum it up.  What is essential is tht you work with a realtor experienced the the HUD buying process like myself.

New HUD homes are put on the market EVERY week and  the bidding period last only a short time, so make sure off of your duckd are in a row.  Ask about the 1% rebate on the purchase of your next HUD home…..