Upcoming Foreclosures

Foreclosure & Hud home???

Whats the difference between the two? Are there any risk in buy homes like this other then the fact that most are sold as is?

Public Comments

1. Yes, a HUD home is a foreclosure but not every foreclosure is a HUD home. If a foreclosed home was purchased with a loan insured by the FHA (Federal Housing Administration), the lender can file a claim for the balance due on the mortgage. FHA pays the lender's claim, then transfers ownership of the property to HUD, which sells the home. This is a HUD home.