What is a HUD property?
The U.S. Department of Housing and Urban Development (HUD) is a federal agency that insures mortgages to homeowners through its Federal Housing Administration (FHA). HUD acquires properties from lenders that foreclose on FHA-insured mortgages and HUD then offers them for sale to the public. These properties are properly referred to as “HUD owned.” Technically, they are not “HUD foreclosures” or “HUD repossessions” because HUD is only the receiver of the property AFTER the mortgage lender has completed the foreclosure. Although HUD becomes the owner and sells the property, it did not foreclose, because only the mortgagee had that legal responsibility. • How do I find HUD properties? foreclosurelistingsnationwide.foreclosure.com is your single best resource for HUD homes nationally. HUD also advertises to the general public through over a dozen asset management and marketing (M&M) companies that are contracted by HUD to maintain and sell its properties. You may check the HUD Web site for