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CHAPTER 6

HUD

The United States Department of Housing and Urban Development (HUD), is a Cabinet department of the United States government. It was founded in 1965, and they focus primarily on housing.

The Federal Housing Administration (FHA), provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories.

A HUD home is a residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. If you have the cash or can qualify for a loan you may buy a HUD Home. All HUD homes and properties available for purchase by the public are offered for sale at www.realtybargains.com

Any real estate broker registered with HUD may submit an offer and contract to purchase on your behalf. We encourage you to get an inspection after your offer is accepted. All HUD Homes are sold AS-IS, without warranty. HUD will neither make repairs nor pay to correct any problems.

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