According to HUD, its mission is “to create strong, sustainable, inclusive communities and quality affordable housing for all…” Any 1-4 unit residential property that is in foreclosure and has a mortgage insured by the Federal Administration of Housing (FHA). it is considered a HUD home.
HUD homes are sold “as is” and are priced at a fair market price for your location. Buyers must use a real estate agent to bid on HUD homes and must follow HUD’s specific bidding rules when making offers.
HUD has several programs to help struggling homeowners and homebuyers. These programs include:
Emergency Homeowners Loan Program (EHLP). The EHLP is a new program that has $1 billion in funding available, is available in 32 states (and Puerto Rico), and is expected to provide much-needed mortgage relief to many unemployed or seriously medically challenged homeowners for up to 24 months. Follow the EHLP link for a list of applicable EHLP rules, states authorized to participate, and to determine eligibility.
Next Door Neighbor Program. This program provides an opportunity for EMTs, firefighters, law enforcement officers, and teachers to purchase homes at a 50% discount.
Non profit. Discounts of up to 30% are available through the FHA for community and faith-based nonprofits.
Dollars Houses. Yes, a dollar! These properties are offered by the FHA to low to moderate income families.
Not all Realtors® or real estate agents are authorized to assist with US Housing and Urban Development (HUD) housing.
As a HUD Approved Realtor® in the State of Georgia, and specifically serving communities in Houston County, I am available and qualified to assist you with your HUD housing needs.
