HUD Homes, Save Thousands!!!
What is a HUD Home?
The United States Department of Housing and Urban Development (HUD) does not loan money or foreclose on properties. But they do provide insurance to protect lenders from loss as a result of borrower default on FHA insured mortgages. After a bank forecloses on a property, they file a claim with HUD for their loss. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim
View this informative video which describes HUD Homes and who is eligible to buy them. Also in this video, you will discover the many benefits of buying a HUD Home, including a brief overview of the bidding process and the various avenues where you can locate HUD Home inventory.
· HUD Homes are available to all purchasers.
· Priority on new listings is given to owner-occupant purchasers.
· If needed, purchasers must be able to qualify for financing from their own lender source, such as a bank, credit union or mortgage company. HUD does not finance purchases.
· Many HUD owned properties do qualify for FHA-insured financing, meaning buyers can purchase with as little as 3.5% down.
· In many cases, HUD homes can be purchased under market value making them excellent investments!
The Bidding Process
HUD homes may be purchased by on-line bid ONLY. Bids must be submitted by a HUD-approved real estate broker. If you need assistance submitting a bid on a HUD home, contact us anytime at (425) 466-9671 or at Info@WREServices.com.
Free HUD Homes Photo Listing Report