Government HUD Homes - The U.S. Department of Housing and Urban Development (HUD) is a federal agency that insures mortgages to homeowners through its Federal Housing Administration (FHA). HUD obtains properties from lenders that foreclose on FHA-insured mortgages and HUD then offers them for sale to the public. If you are interested in buying a HUD home, a bid to buy a HUD property must be submitted during the designated bid period through a registered real estate broker.
HUD Homes are usually offered at a fraction of their market value, providing a great way to make money in the real estate market. To make a bid on a HUD Home, you will need to use a HUD-registered Selling Broker. Find a Broker in Your Area.