What Is a HUD Home?

     The Federal Housing Administration (FHA), which is a part of the Department of Housing and Urban Development (HUD), provides federal mortgage loan insurance which ensures that mortgage lenders will be reimbursed in the event home buyers default on the mortgage. When a lender is forced to foreclose on a FHA-insured single family home, townhouse, or condominium,because the owner can no longer make payments, it can file a claim with FHA for the balance due on the mortgage and convey title of the property to HUD. A HUD Home, therefore, is a one-to-four unit residence acquired as a result of a foreclosure on a FHA-insured mortgage.

[ How Long Does It Take to Buy a Government Owned Home? ] [ How Much Are Government Owned Homes? ] [ What is FHA? ] [ Why Should I Buy a Government Owned Home? ] [ How do I buy HUD Homes? ] [ What is HUD? ] [ What Is a HUD Home? ] [ What Is HUD's Mission? ] [ What Does HUD do? ] [ What are the General Sales Conditions for HUD Homes? ] [ How Does Government Housing Work? ] [ How Are HUD Homes Sold? ] [ How Do I Find Available Government Property? ] [ Problems For Inexperienced Buyers ] [ Do I Qualify to Buy a HUD Home? ] [ Can I rent out my HUD home? ]

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