What does it mean to be a HUD home? these homes looked like someone lived there before and probably forclosed on. Are they cheaper than regular homes? Are they excellent first time home buyer home? Are they simpler to get if you have not so excellent credit? Thanks in advance.
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Michelle, it is a foreclosed home. FHA insured the loan originally, and now it is owned by HUD. Yes you can buy them, some are at pretty excellent prices. My best suggestion is to find a Realtor experienced with the buy process and let them guide you through the transaction. Also make sure to write any offer contingent upon an inspection. If the folks that owned it couldn't keep up the mortgage payments, there could be extreme deferred maintenance items that could be costly to repair.