Upcoming Foreclosures

what is hud foreclosure?

Public Comments

1. When you buy a home using an FHA loan, the money is provided by some investor- but the risk is limited for that investor by the HUD thru the FHA guaranteeing the investor they will not lose more than a certain amount. If the bank or investor is going to lose a lot on a foreclosure on a FHA loan they can "step aside" and let HUD foreclose on the house. HUD will use whatever method is legal in that area and more than 95% of the time around here HUD will end up owning the home. HUD will then market the properties to the open market thru their system- which usually involves listing the property with an agent. A lot of people refer to those homes as "HUD foreclosures"