Home » Real Estate

HUD Home Foreclosure: How It Can Benefit You

Aug 18, 2007
Scattered among all of the hype surrounding foreclosure investing, the term HUD home foreclosure is thrown about as if it is something new and exciting that investors are missing out on. The fact is, though, that these homes have been around for ages and have been the answer that has helped countless families buy their own home when they never dreamed that it would be possible.

Unlike other types of foreclosure purchases, the HUD home foreclosure is an option that all families can pursue. You do not have to have a lot of money to put down at auction or spend hours researching foreclosed properties. All you need to purchase a this type of home is to qualify for financing and to plan to use the home as your family's primary residence. The Department of Housing and Urban Development homes cannot be purchased for real estate investing purposes unless the property is still unsold after a period of marketing only to families who will use the home as their primary residence.

HUD homes are sold through the US Department of Housing and Urban Development and all of the homes they sell are foreclosures. This is how it works: The HUD home foreclosure is actually a residential property that has been foreclosed upon. When a house forecloses, this government agency may acquire the property if it is FHA-insured. the agency then rehabilitates the property and places it on the market for resale in an effort to recover some of the loss.

The goal of the HUD home foreclosure is to make properties available to families who would not otherwise be able to afford a home of their own. The Department of Housing and Urban Development also has special programs for people who hold jobs that benefit the community such as teachers, law enforcement, firefighters, emergency medical personnel and government employees.

To find a HUD home foreclosure, you need to contact a real estate agent that is registered with this agency and is allowed to make an offer on a HUD home. You can also find such homes listed on internet sites that are under contract with the Department to provide this information to the public.

If you are looking to purchase a HUD home foreclosure as an investment property or as a second home, you will need to wait for the required amount of time to pass during which the property will only be offered to families looking for a residence. Once this has happened, you can make an offer either through a real estate agent or directly.

Financing for a HUD foreclosure home is comparable to that of financing for any other type of home. You can pursue conventional financing through a bank or secure financing through a mortgage broker. Some of these homes even qualify for FHA-insured financing. Your agent will know if the home meets the criteria for this type of loan.

In most cases, a HUD home foreclosure can be purchased for far less than what you would expect. Many homes are sold considerably undervalue which is what makes these types of foreclosures ideal.
About the Author
http://www.TheForeclosureInfoSite.com brings you information on many different types of foreclosures. There's nothing to buy just real information for real people.Be sure to check out our HUD Home Foreclosure information page today.
Rating:
Please Rate:
(Average: Not rated)
Views: 150
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Accounting
    • Credit
    • Currency Trading
    • Debt Consolidation
    • Insurance
    • Investing
    • Leasing
    • Loans
    • Mortgage
    • Mutual Funds
    • Personal Finance
    • Stock Market
    • Structured Settlements
    • Taxes
    • Wealth Building
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources