reo: HUD Homes Versus Foreclosures
- 10/23/08 06:20 PM
HUD Homes are merely FHA financed homes that went to foreclosure, since they are insured by Housing and Urban Development, HUD ends up owning the home instead of the bank. The process for purchasing HUD homes is an online auction. The values are set and I have to tell you, there is definitely some inconsistencies in the various properties and their asking prices. So yes they can be bargains, HUD does things that are different that just complicates the process. For one they don't provide title insurance and if your Realtor is not that savvy, you could end up with a … (0 comments)
HUD Homes are merely FHA financed homes that went to foreclosure, since they are insured by Housing and Urban Development, HUD ends up owning the home instead of the bank. The process for purchasing HUD homes is an online auction. The values are set and I have to tell you, there is definitely some inconsistencies in the various properties and their asking prices. So yes they can be bargains, HUD does things that are different that just complicates the process. For one they don't provide title insurance and if your Realtor is not that savvy, you could end up with a … (0 comments)
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