When subprime loans went away a few years ago FHA took it's place. With 100% financing a thing of the past, FHA offered the next best option...3.5% down. Also, once subprime went away, FHA emerged as the next easiest home loan to qualify for. Because of this, many borrower's went the FHA route. It should be no surprise, then, that with the abundance of FHA loans over the last few years came an increase in the number of FHA defaults. FHA pays the insurance claim and HUD takes over the property. There is and will likely continue to be a fair stable of HUD owned homes available to the homebuying community. HUD has a specific website where all HUD homes are available to learn about and potentially bid on (www.hudhomestore.com). If you need help with the process I will be glad to walk you through it. I am a HUD Local Listing Broker and one of my responsibilities is to help the realtor and buying communities understand how to find and bid on HUD owned homes. Feel free to call (866-733-4623) or send me an email (email@example.com). I am here to help!