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HUD Home Bargains For Maryland Buyers
 What is Really Involved in Purchasing a HUD Owned Home
 
 
All About HUD Foreclosed Homes For Sale
What is a "HUD Home"? Homes acquired by the U.S. Department of Housing and Urban Development are "HUD homes". They include single family residences, townhouses, condominiums and other types of residential properties. When a homeowner cannot meet the payments of a HUD insured mortgage, the home gets foreclosed by the mortgage lender. The mortgage lender then transfers ownership of the home to HUD and collects the amount owed to it. HUD will then offer the home for sale at market value with the intent to sell as quickly as possible. HUD homes attract a wide range of potential buyers. Investors are generally bargain hunters looking for a property that can be bought, fixed up and resold at a higher price. Teachers and police officers can purchase HUD homes at 50% of the listed price. Other home buyers are motivated in HUD foreclosed homes for sale at below market value, which allows them to acquire a larger home than they could normally afford to purchase. Who Can Buy a "HUD Home Anyone can buy a HUD home, if pre-approved for a mortgage ... more

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