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can anyone tell me what "HUD" means?
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Mrs213
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Member since 2/09 18986 total posts
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can anyone tell me what "HUD" means?
 
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Posted 4/1/10 8:40 PM  |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: can anyone tell me what "HUD" means?
department of housing and urban development
but even then it can mean a lot of things- example....
HUD-1 - a mortgage document
HUD house- is a government owned foreclosure
in what context?
Message edited 4/1/2010 8:47:54 PM.
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| Posted 4/1/10 8:45 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: can anyone tell me what "HUD" means?
Posted by Beth
department of housing and urban development
oh yeah I know that but when they say a "hud home" is it owned by them?
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| Posted 4/1/10 8:48 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: can anyone tell me what "HUD" means?
Posted by staceyums81
Posted by Beth
department of housing and urban development
oh yeah I know that but when they say a "hud home" is it owned by them?
yes
FM
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| Posted 4/1/10 8:49 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: can anyone tell me what "HUD" means?
when some FHA loans go into foreclosure they get taken over by HUD
buying a HUD house is a very easy process
you see the house
you place a bid (along with pre-approval letter and a check for $1500 - refunable if you don't get the house)
and with in a few days you have an answer
they do NOT negioate
you have to go into contract with in 48 hours
you don't need your own attorney- you can use the HUD attorney- there are NO changes allow to a HUD contract
I sold 2 HUD homes this year- you can get a great deal
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| Posted 4/1/10 8:53 PM |
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