Did you know that HUD sells properties that you might want to buy? Click on the link to visit About HUD Homes and learn more about the HUD website.HUD does two things, it offers low-down payment mortgage loans for homebuyers and it insures lenders of default on FHA insured loans. When a homeowner defaults on their FHA loan, the bank that owns the loan has a choice of taking their monies and giving the home back to HUD or to keep the home and sell it themselves. (Most of the time the bank takes their money and turns over the home.)When HUD receives a home due to foreclosure, HUD wants to sell the home in 90 days or less and at the highest price possible. The homes are offer up "AS-IS" and the utilities will be off and the home winterized in the states where cold temperatures are comm...
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