Real Estate
Buying Hud Homes
April 26, 2009 by The Manzo Team · Leave a Comment
What is a HUD Home?
A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.
Who can buy a HUD Home?
Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.
How are HUD Homes sold?
All properties available for purchase by the public are offered for sale at Internet listing sites maintained by management companies under contract to HUD. Any real estate broker registered with HUD may submit an offer and contract to purchase a home on your behalf. HUD pays the real estate broker’s commission, if included in the contract.
Are there any special programs?
Properties in designated areas are available at a reduced sales price to law enforcement officers, teachers, firefighters, emergency medical technicians, nonprofits and local governments. Read more about these Good Neighbor Initiatives.
Pasadena real estate | Pasadena homes for sale | Pasadena Realtors | Pasadena Realty
If you are buying or selling a home in Pasadena CA, your best option is to speak with a local 
We have access to all 
Pasadena condo market reflects it's diversity, with a range of options from affordable entry level 
The Pasadena Remax Realty office is working with banks to sell their 
Our 