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Why HUD Homes?

April 26, 2017homes HUD

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Why HUD Homes?

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HUD homes are homes that had FHA mortgages and were acquired by foreclosure by the U.S. Department of Housing and Urban Development or HUD. HUD then offers the home for sale by auction. They price the home at auction with the aim of selling it off quickly and recovering the money. HUD will accept the highest bid on a home, even if it’s significantly below the quick sale value placed on the home. HUD homes have 50% off grant programs for qualifying buyers.