A great HUD house is little more than a house that has been purchased that have an FHA mortgage that because dropped into foreclosures
(I’m not sure these residential property aren’t named FHA property foreclosure, that would be much more user friendly for homebuyers and you may dealers, nevertheless the Service away from Property and you may Urban Innovation [HUD] is the federal place of work which will take best duty to have FHA and you will their mortgage brokers moved incorrect.)
This is your agent’s obligations to check on the site to see if their bid was acknowledged and also to done every necessary documentation
To get good HUD house is different from to order an alternate foreclosed assets. Read more