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7830 Veterans Parkway, Building C
Columbus, GA 31909
Office: 706-576-2400
Cell: 762-207-8778
Email: info@HudSoldHere.com

Everything You Ever Wanted To Know About The HUD Sales Process
Think you know what a HUD home is? Doubt it!!!

Since this is a brand new blog for us, let's start at the very beginning.  There are lots of myths out there as far as HUD homes are concerned, and we're here to bust the myths and spread the TRUTH!

I'm sure you've heard the phrase "HUD Home" before, right?  Well, what exactly is a HUD Home?  Which of the answers below is correct?

A:  Homes in "bad" areas
B:  Homes for Low-Income Families
C:  Homes available on Section 8 or HAP
D:  A one-to-four unit single-family residence acquired as the
     result of a foreclosure on an FHA-insured mortgage

The correct answer is "D".  A one-to-four unit single-family residence acquired as the result of a foreclosure on an FHA-insured mortgage.  These homes vary in price, location and condition.  Some homes are move-in ready, while others are not.

How are the prices for HUD homes determined?

Contrary to widely circulating rumors, these homes are not priced according to the loan balance.  They are priced at market value, based on a recent appraisal.

That's all for now, but we will be posting more information every week, so check back to learn more about HUD homes!

Posted By - Terri Kilpatrick - 01/03/2011
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