What is a HUD Home?

A HUD home is a home with an FHA insured mortgage that has gone into default.  The lender acquires the property through the foreclosure process, submits an FHA insurance claim, then conveys ownership to HUD.  HUD will then sell the home through their asset manager, BLB Resources (who I work for).  A HUD home can be a singe family residence, townhome, condominium, or other type of residence up to 4 units.

Posted on February 29, 2012 at 8:03 pm
Brian Pelky | Category: Hud Homes

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