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Great Deals on Minnesota HUD Homes By Ahmed Elbatrawy
Hello Minnesota Home Buyers! There has never been a better time to buy a home in Minnesota, and great deals can be had on HUD owned homes. But first, what exactly is a Minnesota HUD Home?A Minnesota HUD home is a 1 to 4 unit residential property located in the state of Minnesota that has been acquired by the United States Government’s Department of Housing and Urban Development (HUD) as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale in Minnesota to recover the loss on the foreclosure claim. Who can buy a HUD Home in Minnesota?YOU CAN! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home in Minnesota. HUD Homes are first offered to people who are buying the home as their primary residence (owner occupants). Following this priority period for owner occupants, unsold properties are then made available to all buyers, including investors. How are Minnesota HUD Homes sold?All properties available for purchase by the Minnesota public are offered for sale at Internet listing sites maintained by management companies under contract to HUD. Any Minnesota ... more
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