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What is a HUD Home?

Real Estate Broker/Owner with Desert Sky Real Estate, LLC 200201121

February 15, 2011 09:22 AM

What is a HUD Home?

A HUD home is a property purchased with an FHA insured loan that has gone into default and been foreclosed on by the lender (BofA, Wells Fargo, Chase, etc) holding the note. The lender files a mortgage insurance claim on the FHA insurance and conveys the property to HUD. At that time the property becomes a HUD Home.

New HUD Homes enter the market daily. An FHA Appraisal is ordered prior to listing and the property is listed at (or occasionally below) appraised value.

Bids are reviewed Monday - Friday mornings, excluding Holidays.

A bid placed on Friday - Sunday will be reviewed on Monday.

246 SE 5th Street ~ $33,600

PRICE REDUCED $4,200.
HUD Home in Prineville.

Bedrooms: 3
Baths: 2
Sq.Ft: 1056
Year Built: 1994

MLS: 201010459

3200 SW Peridot Ave, Redmond ~ $82,400

PRICE REDUCED $10,300.
HUD Home in SW Redmond.

Bedrooms: 3
Baths: 2
Sq.Ft: 1235
Year Built: 2007

MLS: 201010408

2686 NE Sugarpine Rd ~ $63,000

PRICE REDUCED $7,000.
HUD home in Prineville.

Bedrooms: 3
Baths: 2
Sq.Ft: 1258
Year Built: 1997

MLS: 201010844

816 Lakeshore Dr, Culver ~ $40,500

PRICE REDUCED $4,500.
HUD Home in Culver.

Bedrooms: 3
Baths: 1
Sq.Ft: 1008
Year Built: 1970

MLS: 201010508

Don't hesitate to contact me with any additional questions.

Terri Visser, CRS (541) 410-4978 Desert Sky Real Estate, LLC Principal Broker/Co-Owner www.TerriVisser.com Licensed Oregon Real Estate Broker. OR Agency Disclosure Pamphlet