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What is a HUD Home?
HUD (US Department of Housing and Urban Development) Homes are actually Real Estate Owned (REO) homes! What makes a HUD Home different is that the home was financed with an FHA (Federal Housing Administration) insured mortgage. So instead of a private lender repossessing and selling the property it is HUD who is doing the selling.
HUD Homes are also sold in a much different manner than your traditional Bank Owned property. After the foreclosure auction has ended with no successful bid a HUD Home goes up for sale in a blind auction where there is an open bidding period for potential owner-occupants and then, if no successful bids, potential owner-investors.
If you think you would be interested in finding out more about HUD Homes here in Boise Idaho please don’t hesitate to Contact Me!
Find out more about what HUD Homes are in the article, “What is a HUD home?“. You can also find out more about the difference between a HUD home and a Bank Owned home in the article, “HUD Home vs Bank Owned Home“.