What is a HUD Home?
- It's an FHA insured mortgage that has gone into default
- Lender acquires property, submits FHA insurance claim, then conveys ownership to HUD
- HUD will then sell their home through their Asset Manager (AM), BLB Resources
- A HUD Home can be Single Family Residence (SFR), Townhome, Condominium or other type of residence up to 4 units
Who can buy a HUD Home?
- Individuals and investors, HUD-approved non-profit organizations and government entities
- Buyers who can secure a loan or pay cash to secure real estate
- Pre-qualification letter from lender or proof of cash funds is required
- Priority is given to owner occupants