Hud Foreclosure Sales
January 23rd, 2010
Hud Foreclosure Sales
Question: What's a HUD case mean for a house listing?
I found a house listed for sale online and it says it's a HUD case, does that mean it's really crappy inside? Or does that mean it's owned by HUD as opposed to a bank like a foreclosure? How does a house become a HUD house?
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Answer: HUD offers an insurance program which covers any losses by a bank when that bank issues a HUD loan. HUD does not loan anyone any money. They are an "insurance" policy. The buyer of the home paid the fee for that policy when she bought the house.
Your house is owned by HUD. HUD paid off the bank and took title. Now they are selling it. It will be sold "as-is". You can look inside the house since it is up for sale. You make your offer assuming that everything does not work. Most of their houses have a minimum bid .... often in the listing.
Colorado Springs Real Estate HUD Foreclosure 759 Memory Ln 80817
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Posted in HUD foreclosures | 
Tags: foreclosed, Foreclosure, Foreclosure Sales, government, hud, Hud Foreclosure, Hud Sales, realestate
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