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Bargains in HUD Acquired Homes
The Federal Housing Administration (FHA) is part of the Department of Housing and Urban Development (HUD). Lenders loan money to home buyers under FHA guidelines and subsequently FHA insures the loan. Home buyers pay an upfront fee plus a monthly fee to FHA for the loan insurance. This insurance has nothing to do with the buyers’ property insurance; it simply is a guarantee to the lender in case the buyers default on the loan; when buyers default and the lender forecloses on their property, HUD buys the house from the lender. HUD puts the houses on the market for home owners and investors to purchase.
HUD rarely does any repairs on the properties. Most houses need some work: some need a little work, some need a lot of work. There are real bargains on many of the houses assuming the buyers work with experienced HUD agents. We have sold several thousand HUD houses since the early 1980s. Our most experienced HUD agents can help you:
Carol Thimesch for the northern half of the Metroplex - 469-774-9074 - Carol@HousingWiz.com
Barbara Dubois for the southern half of the Metroplex - 972-814-7462 - Barbara@HousingWiz.com
We post pictures on the right side of our home page of a few of the houses available for sale by HUD. Click on the house and you will be taken to the pictures and additional information on specific houses.
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