Home Buying in Lawrence>Question Details

Ashley M., Home Buyer in Phoenix, AZ

What is a HUD home?

Asked by Ashley M., Phoenix, AZ Wed Jun 25, 2008

There is a property that I am really interested in, but it is a HUD home. I am not familiar with this term and the stipulations that are attached to it. The house is 71 Bigelow St Lawrence, MA. Thanks for the help!

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A HUD home is a property that has been lost by a previous owner in foreclosure or a property that an owner has given back to the lender with a deed in lieu of foreclosure. Property owners facing financial difficulties are sometimes unable to keep up with mortgage payments. In the case of HUD homes, the property owner is a person who obtained an FHA mortgage to purchase or refinance the property as a principal residence...

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1 vote Thank Flag Link Thu Dec 4, 2008
You need to work with an approved HUD broker. I would highly recommend that the approved HUD broker is a Realtor which means they are members of the National, State and Local Association of Realtors. To find an approved HUD broker go to my website.
0 votes Thank Flag Link Thu Dec 4, 2008
HUD Homes are a great buy .... I have written a book called "How to Buy a HUD Home". You can get a copy of the book by going to my website http://www.Find-A-HUD-Home-Today.com. This book will answer most of your questions. Best of all I provide the book at no cost.
0 votes Thank Flag Link Thu Nov 27, 2008
A HUD home is a foreclosed property that has a gov't backed loan. Would recommend you seek the help of a local Realtor that can help you through the buying process. It doesn't cost you (the Buyer) anything and you get professional help. Good Luck!
Web Reference: http://www.AngelaJensen.com
0 votes Thank Flag Link Wed Jun 25, 2008
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