What is HUD and what are HUD homes?
HUD stands for U.S. Department of Housing and Urban Development. A HUD home is a 1-4 unit Residential property that through the act of forclosure on a FHA insured loan, has been aquired by HUD. HUD then becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. Bad news for them, but great news for you!
Can I buy a HUD Home?
Almost anyone can! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.
How do I search for a HUD Home?
For Indiana, HUD homes are managed by HMBI (Harrington, Moran and Barksdale, Inc.) To search for available HUD homes in your area please click the following link: Click Here to Search for Indiana HUD Homes
For more information or help please don't hesitate to contact me and I would be glad to assist you through this process.