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HUD Homes

HUD homes are properties that were last owned by someone with an FHA-insured mortgage. When this property owned defaulted on the loan, the lender appealed to the FHA in order to get back the money lost on the loan. The Department of Housing and Urban Development (which includes the FHA) paid the lender the money and the lender handed the property over to the government. The agency placed the property for sale in order to earn back the money they had to pay to the lender. The property then becomes one of the many offered among the HUD repo homes sale properties across the nation. Since the government probably did not have to pay the full value of the repo home to the lender in order to pay off the mortgage for the lender, the agency does not have to get full market value for the property, and this means amazing bargains for the buyer.

If you have been thinking about buying real estate, you owe it to yourself to consider government HUD homes. Repo homes offers amazing benefits, such as:

  1. Up-front savings. HUD homes foreclosures are often priced at 5% to more than 60% lower than their market value, which means that you save tens of thousands or even hundreds of thousands up front. Plus, since you buy with a bidding system, you make low ball offers that can save you even more.
  2. Mortgage savings. When you buy HUD homes, gov owned properties require a much smaller mortgage. That means that you pay less in interest over the term of your loan and you face smaller payments each month, so that you get to take more of your pay check home each month. In fact, some of these properties can be less expensive than renting!
  3. The power to improve your credit. When you buy government owned properties, you pay less and take out a smaller loan, which can improve your credit. Plus, since your monthly mortgage payment is more affordable, you are more likely to make payments each month, which can dramatically boost your credit score.
  4. Equity. When you buy government owned real estate, you may pay less than the property is worth, which gives you equity in the property. You can use equity to bargain for a lower interest rate on your mortgage and equity can also act as a safeguard - if you need to refinance later, the equity can help you get a great rate on your loan and can even offer you cash back.
  5. Great buyer programs. The government makes it easy to buy property. There are special programs for low-income house buyers, for teachers, for law enforcement officers, for firefighters, and for charities. Plus, everyone can take advantage of the government's special house repair allowances and other exciting programs that make buying property even more affordable.

To get started, all you need is a quality HUD homes list, such as Foreclosure-Auction.net. This HUD homes listing shows you exactly where inexpensive properties are. Our professional HUD homes listings include not only a huge listing of HUD homes across the nation, but also insider secrets that show you how the professionals buy HUD homes for less. If you want all the advantages that FHA HUD homes offer, be sure to see us first!

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