What is a HUD owned 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. They then place the home on the market at its appraised AS IS value and sell it as quickly as possible. They are vacant, some are in move in condition, and some need fixing up. Keep in mind, HUD owned homes are oftentimes beautiful homes in well-established neighborhoods; however most residential real estate agents are unaware of them and have no knowledge about a HUD owned home transaction and lack the proper HUD required credentials. U.S. Home Buyers Assistance Corp. specializes only in HUD owned homes and is properly registered with the state and federal agencies, authorizing them to broker hundreds of HUD owned home sales.
