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What are HUD owned homes and how are they different from regular foreclosures?

April 26, 2017different Foreclosures homes HUD regular

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What are HUD owned homes and how are they different from regular foreclosures?

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HUD-owned homes are properties that were originally financed with a FHA-backed mortgage that went into foreclosure. The lender who foreclosed on loan then sold the property back to HUD, who insured the property to start with. The property is now a government owned home. HUD owned homes are unique in several ways. You can find out more about Atlanta HUD-owned homes, their selling and buying process and their financing here.