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HUD Repo Homes

HUD Repo Homes

When a homeowner defaults on his mortgage insured by the Department of Housing and Urban Development (HUD) through the Federal Housing Authority (FHA), the lender simply reimburses the cost of the home loan and turn over the property to the HUD. After, the properties are sold as HUD Repo Homes.

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Advantages of Buying HUD Repo Homes

HUD Repo Homes

Buyers in the market for government repossessed homes will find an HUD repo home to be attractive because of the following reasons:

  • Properties are sold at cheap prices.
  • Buyers can choose from a large selection of properties ranging from single to multi-family units.
  • Loans are available to the buyer to help them with repairs and renovation such as the FHA 203K, which entails a loan amount more than the purchase price, with the difference to be used for repairs.
  • One of the special homebuying programs can be availed. Simply choose from Good Neighbor Next Door, Homeownership for Public Housing residents, Hurricane Evacuees discounted sales and Indian Home Loan Guarantee Program.
  • Investors can purchase several properties and convert them into "fixer upper repo homes".

Profiting from HUD Repo Homes

Not surprisingly, these HUD repo properties are perfect if you are looking for a second home, a rental unit, or the more popular, fixer upper. They are priced below their current market values, and even with repair costs, buyers and investors still get to enjoy considerable savings.

For the best selection of HUD repo homes for sale, you can simply subscribe to Repo-Homes.com. We can offer you not only the best choices, but also the hottest deals on these repossessed properties. Search in all 50 US states conveniently and efficiently!

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