Susan Hilton College Station Real Estate
Realtor & Vice President of Sales
Read my blog below
What is a HUD home? Do You Want One?
July 24th, 2008 Categories: Buying Real Estate
Ever wondered what a HUD home really is and if we have any in Bryan & College Station, Tx?
HUD defines a HUD home as “A HUD home is a 1-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage.” Since HUD is then the property owner, they offer it for sale and attempt to recover any loss on the foreclosure claim. HUD is not interested in owning properties.
A HUD home does NOT mean it is low priced, in a low income area or has government subsidized tenants. It simply means that the loan on the property was an FHA loan and the property was taken back through foreclosure. There are “HUD HOMES” in neighborhoods with $20,000 homes and $200,000 homes and higher!
If you are looking to purchase a HUD home you will need to work through a Realtor that is HUD approved. HUD does not sell directly to consumers. They always use a sales agent so call CENTURY 21 and let us get started hunting for the right home for you!
Susan Hilton – Realtor & Sales Trainer for Century 21 Beal
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