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.  You may finance the HUD home or pay cash. 

Properties that do not require significant repairs can be purchased with an FHA-insured mortgage.  The property listing will indicate if it is eligible for purchase with an FHA-insured mortgage. 

HUD homes are initially offered to owner-occupant purchasers.  Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.  Properties in designated areas are available at a huge discount on the list price of 50% to police officers, teachers, firefighters, and emergency medical technicians.  HUD requires they live in the property for 36 months as their sole residence, AND the property must be in one of their designated neighborhoods HUD considers a "revitalization area" (ask us for more details).  All HUD homes are sold "as is", without warranty.  HUD will not make repairs and will not pay to correct any problems.  

Search Hud Homes here.  Choice Real Estate will be happy to assist you with your search for a Hud home.  You may also select from MD Hud Registered Brokers in your city. 

 

 

 

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