Are you under the impression you had to be a specific kind of buyer for this type of property. You don’t! Almost anyone can buy a HUD home. Did you know that?
Do you know what a HUD home is?
A HUD Home is a single family home or other type of residence that is backed by the Federal Housing Administration / FHA and is now in foreclosure. Once a home backed by the FHA goes into foreclosure, it is deeded back to HUD by the lending mortgage company.
Do you know what a HUD home looks like?
It looks like any other house on the market for sale.
How do you buy a HUD home?
You do have to meet some guidelines which you can check out at WWW.HUD.GOV.
I can get you a list of HUD homes in your area.
The other great thing I learned is there is a special program if you are a law enforcement officers, firefighters, emergency medical technicians or teachers, called the Good Neighbor program. I am sure some of you have heard about it, but who has used this? HUD homes can close quickly and you can qualify with several types of loans. Some as little as $100 down. I am so glad that I took the class and educated myself because we are going to a lot more of these homes coming on the market, and I would love to be able to help my buyers get into a great home at a great price with a great interest rate.
The time to buy is NOW!! Prices are still great, S.S., foreclosure, HUD, new construction, condo, single family, quad-plex, and more I sell it all.
I will post more information about this on my website under the HUD link. If you have any questions or comments on this or any of my other blogs I would love to hear them. Thank you for reading.