What is a HUD Home?
A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.
HUD Announces Launch of HUD Home Store
HUD Home Store is the listing site for HUD real estate owned (REO) single-family properties. This new site provides the public, brokers, state and local governments and nonprofit organizations a centralized location to search the inventory of HUD properties for sale. In addition, registered real estate brokers and other approved organizations can place bids on behalf of their clients to purchase a HUD property. HUD Home Store also includes many informative user-friendly features providing advice and guidance for consumers on the home buying process. FAQs are available online for:
The following links and web pages provide information about the process through which HUD homes can be purchased and resold. Additional links provided in the menu to the right provide access to FHA program and policy information for homeowners, homebuyers, and members of the mortgage lending and real estate industries.
HUD Announces FHA "First Look" Sales Method for Eligible NSP Purchasers (July 2010)
HUD Secretary Shaun Donovan announced a new Departmental initiative that gives state and local governments and nonprofit organizations participating in HUD's Neighborhood Stabilization Program (NSP) preference to acquire homes from the Department's inventory of foreclosed properties (with the exception of Asset Control Area/ACA properties), commonly known as "HUD Homes." Details of the FHA First Look Sales Method have been published as a Notice in the Federal Register.