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.
What about financing?Although HUD does not offer financing directly, some of our homes qualify for FHA-insured loans. Contcat me directly michael@valleyfinance.com
To search for H.U.D homes click here and here and if you need money to make it all happen michael@valleyfinance.com
