What are HUD Homes, and, are they a good deal?

Here’s a question that we get about once or twice a week, because we are a HUD approved broker.  Which means that we can represent buyers who are interested in buying HUD homes.  On HUD’s website, here’s how they answer that question:

What are “HUD homes,” and are they a good deal?

• Answer: HUD homes can be a very good deal. When someone with a HUD insured mortgage can’t meet the payments, the lender forecloses on the home; HUD pays the lender what is owed; and HUD takes ownership of the home. Then we sell it at market value as quickly as possible.
  

There are 3 things that every buyer must know before deciding whether this option is better than a non-HUD home option.  You can ask me for more about that by clicking here.

 

Jesse Ibanez

858-863-0261