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