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.
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.
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.
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
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,
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.