what is a HUD home?

Asked by p.kelley.ament, Ponder, TX Mon Jun 11, 2012

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This question is about this property: http://www.trulia.com/property/3086933290-1905-Ramada-Trl-Ju…

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6
Bruce Ericks…, Agent, Dallas, TX
Wed Jun 13, 2012
The following web site is where you can search for HUD homes that are currently available. You will still need a HUD real estate broker to submit your bids. Also there is a $100 down program available till sometime in October for some of the home .. so don't delay in checking them out.

http://www.hudhomestore.com/Home/Index.aspx

If you would like more information or someone to ask some real estate questions please feel free to contact me.

Best of Luck .. Bruce
0 votes
Bruce Lynn, Agent, Coppell, TX
Mon Jun 11, 2012
HUD homes are homes that were originally financed with FHA insured loans and the buyer did not pay. Sometimes the lender will forclose and allow them to go back to HUD. HUD is the US Gov Housing and Urban Development entity.

HUD homes are sold on an auction basis. Normally preference is given to owner occupants. The listed price is based on a new appraisal and in most cases a new FHA insured loan can be based on that price. You can bid less if you want, but the sale will normally go to the highest bidder as long as it has met the minimum price that is undisclosed. This means they won't sell for $1 if that is the highest bid.

There are good and bad things about buying a HUD home and we can explain that too you if you are interested. Just let me know if you would like to take a look at it.

To see other homes in Justin or Ponder area just check out the link below.
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Jun 11, 2012
Direct Link
http://www.ehow.com/facts_5129998_definition-hud-home.html

Happy to represent you in real estate transaction for HUD home

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com

Follow me on Facebook
http://www.facebook.com/lynn911dallas
0 votes
Tommy Burris, Mortgage Broker Or Lender, Baton Rouge, LA
Mon Jun 11, 2012
FHA loans are insured by HUD (U.S. Dept. of Housing & Urban Development).
When those loans are foreclosed on... HUD owns them.
HUD is now the seller.

Sometimes they are a great deal. Sometimes not so much.



Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes
Larry Mason, Agent, Dallas, TX
Mon Jun 11, 2012
They property you were looking at just went on the market but you are still in a window where they will consider all offers. Call me and we can view this property and discuss the process. Also, I can send you the agent reports on it's condition,

Larry Mason
972-900-2375
0 votes
Larry Mason, Agent, Dallas, TX
Mon Jun 11, 2012
A HUD home is a forclosued home that was insured by HUd so they are in possestion of it. When you make a offer you have to go through a HUD realtor. I am a HUD specialest so call me and we can discuss your needs.

Larry Mason
975-900-2375
Keller Williams

Also more HUD home here http://www.Larrythemason.com
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