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.