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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.
GOVERNMENT OWNED FORECLOSURES...
Buying a HUD government owned property is much different than buying a bank owned property. You can go to ABOUT BUYING HUD PROPERTIES for more information.
Many people are under the impression HUD properties are in poor condition or in depressed areas. This is a misconception. These properties are located in any city, town, or county that a buyer used FHA insured financing when purchasing the propery.
ANYONE CAN PURCHASE A HUD PROPERTY, as long as you qualify for a mortgage. Cash offers are always acceptable. FHA financing is not required, you may use a lender of choice!
Here is a link to all the HUD owned properties available in the counties of Michigan. As an approved HUD registered Broker, I have access to ALL these homes and can assist you on making an offer. Check out the HUD property list and give HOLLY PETERS a call to set a private viewing!
 <~~Click Here for HUD Properties
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