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What is a HUD
Home?
The Federal
Housing Administration (FHA) is the organization of the U.S.
Department of Housing and Urban Development (HUD) that
insures certain mortgage loans for lenders. If the lender
forecloses on the loan, FHA repays the balance of the loan
to the lender and the title to the home reverts to HUD. HUD
then sells these homes at market value. |
What is a
Foreclosure?
A Foreclosed property is a property
that a borrower has lost due to the inability to repay the
home's loan balance back to the bank. In such a
circumstance, the bank will first try to receive Fair Market
Value for the home then gradually reduce the price until the
home sells; some of the time greatly below market value. |
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How Do You Make An Offer On a HUD Home?
You have already taken the first important step:
You have found a HUD registered Real Estate
Professional who can place a "bid" for you on
such a home. |
How Do You
Make An Offer On a Foreclosed Home?
You
have already taken the first important step: You have found
a Real Estate Professional who specializes in finding
foreclosed properties and experienced in negotiating the
sale of such homes.
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Can You Buy a HUD Home as an Investment
Property?
Absolutely. The R. K. Regan Team has sold many
HUD homes to investors at well below market
value. We will be glad to work with you in
increasing your purchase power by investing in
these types of properties.
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Can You Buy a
Foreclosed Home as an Investment Property?
Foreclosed properties can be bought by anyone. Let us show
you how! |
