Showing posts from September 14, 2007

How to Buy HUD Homes

HUD sells properties at reduced prices that you might want to buy! What is a "HUD Home"? When someone with a HUD-insured mortgage can't meet the payments, the lender forecloses on the home; HUD pays the lender what is owed, and HUD takes ownership of the home। Then sell it at market value as quickly as possible Frequently Asked Questions About HUD Homes Who can buy a HUD home? Answer: Anyone! If you have the cash or can qualify for a mortgage, you can purchase a HUD home. Are HUD Homes meant for people with low incomes? Answer: HUD homes range in price, but most are affordable for low-and moderate-income Americans. Is it true I can get a HUD Home for a dollar?  Answer: No. HUD sells homes at market value - that means that the price is set based on the price of similar homes sold in the area. If the HUD Home needs repairs, will HUD make them? Answer: HUD Homes are sold "as-is," without warranty. That means that HUD will not pay to correct any