HUD Foreclosures – An Opportunity to Find the Property You Want at a Substantial Discount

By James Ferris

Just about everyone knows that foreclosures offer an opportunity to pick up properties at discount prices. It’s also common knowledge that banks have a number of foreclosed properties that they need to get rid of but banks are not the only institutions with an inventory of unwanted real estate. There are a number of government agencies that have properties available for sale and one area that a lot of investors like to look into are HUD foreclosures.

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HUD, or the Department of Housing and Urban Development, oversees the Federal housing administration or FHA. The FHA does not make loans but rather insures bank loans in order to remove the risk banks face when making loans to first-time buyers, people with small down payments, people with less than perfect credit etc. HUD has programs that help people to buy houses who would not otherwise have the opportunity. Through various programs people can borrow money from banks that is insured by the FHA but when these people fail to remain current on their payments and default on their loans the homes will eventually be repossessed by the Department of Housing and Urban Development which then sells the property in order to recover its losses.

HUD foreclosures can be found nationwide, in a variety of different neighborhoods, and many of these properties are available at affordable prices. They have residential properties ranging from small condominiums to large, four unit residential buildings. A lot of the properties need a little TLC but it is not uncommon to find properties at discounts of 40% or more allowing you to save tens of thousands of dollars. HUD properties can be a great investment opportunity for people looking for a house to fix and flip, a rental income property, or a nice family home.

Get home foreclosure listings and find foreclosed homes at huge discounts. Learn where to go to find local bank foreclosures, HUD homes, VA homes, IRS repos and more in your area http://www.smartcreditblog.com/foreclosure-lists.html

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