colorado: HUD Owned Properties for Sale in Brighton, Colorado
- 01/21/11 06:52 AM
What is a HUD Owned property or better know as a HUD Home? When someone with a federal Housing Administration (FHA) insured mortgage can't make the payments, the lender or note owner forecloses on the property. Since the loan is insured FHA pays the lender what is owed and the U.S. Dept of Housing and Urban Development (HUD) takes ownership of the property. HUD then sells the property at market value or less as quickly as possible. Some of the homes will qualify for new government financing FHA) and some because of the condition will not. Currently there are approximately 26 HUD Owned … (2 comments)
colorado: Welcome to Holly Crossing, Brighton, Colorado
- 01/17/11 05:37 AM
Holly Crossing is a quiet, tree lined residential neighborhood of approximately 650 single family homes. These homes were built in the early 1990's. Holly Crossing is located just north of 120th ave and south of 123rd Circle. Bordered by Monaco on the west and Newport on the East in Adams County. It has a Brighton,Colorado mailing address and 80602 zip code. Holly Crossing is part of the Wright Farms Metropolitan District which also includes Wright Farms and Jasmine Estates. For more information about the district go to www.wrightfarmsmetropolitandistrict.com. The new Anythink Library located at 120th and Holly is also part of … (0 comments)
colorado: Is HUD guilty of REDLINING
- 01/14/11 05:56 AM
Is the government agency,Housing and Urban Development(HUD), who so proudly shouts "Equal Opportunity" guilty of redlining and discrimination? What is REDLINING? Mortgage bankers and lenders are familiar with this term. As defined by Wikipedia Redlining is the practice of denying, or increasing the cost of services such as banking, insurance, access to jobs,[2] access to health care,[3] or even supermarkets[4] to residents in certain, often racially determined,[5] areas. The term "redlining" was coined in the late 1960s by John McKnight, a Northwestern University sociologist and community activist.[6] It describes the practice of marking a red line on a map to delineate the … (2 comments)
What is a HUD Owned property or better know as a HUD Home? When someone with a federal Housing Administration (FHA) insured mortgage can't make the payments, the lender or note owner forecloses on the property. Since the loan is insured FHA pays the lender what is owed and the U.S. Dept of Housing and Urban Development (HUD) takes ownership of the property. HUD then sells the property at market value or less as quickly as possible. Some of the homes will qualify for new government financing FHA) and some because of the condition will not.
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