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What is a HUD property? |
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| 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 is a government entity that purchases FHA loans in which the owner has defaulted. HUD then offers them for sale to the public. | |
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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. HUD properties are typically in the US only. The homes are vacant and generally need some type of repair, sometimes a lot and sometimes very little, if any. HUD homes are usually a great way to earn instant equity in a home, especially if you are the do-it-yourself type. You will usually notice the difference in the HUD asking price and the valuation amount on each HUD property. |
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If you have any questions or require further information, please send me an email. Thank you, Read about Power of Sale, Bank Sales and Foreclosure Properties FAQ's Read a very detailed section about Power of Sale and Foreclosure or go back to list of Real Estate Helpful Articles |
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Mississauga MLS Real Estate Properties & MLS.CA Homes for Sale All Pages including SiteMap, Add URL , Mississauga Real Estate Blog and Guestbook maintained by A. Mark Argentino, 
mark@mississauga4sale.com Copyright © A. Mark Argentino, P.Eng., Broker, RE/MAX Realty Specialists Inc., Brokerage, Mississauga, Ontario, Canada L5M 7A1 (905) 828-3434 First created - Tuesday, July 16th, 1996 at 3:48:41 PM -
Last Update of this website:
Tuesday, August 19, 2008 4:36 PM
At this Mississauga, (Erin Mills, Meadowvale, Streetsville, Sawmill Valley, Credit Mills and/or Churchill Meadows) Ontario, Canada Real Estate Property web site you will find relevant information to help you and your family.
