A lender, such as a bank or mortgage company, makes an FHA-insured loan to a home buyer. At some point, the homeowner defaults in making the required payments, so the lender forecloses and has the homeowner evicted. Since the loan was insured by the Federal Housing Authority, FHA pays off the lender. The result is that title to the property passes to the Department of Housing and Urban Development. HUD then has the property condition assessed so that the property can be appraised and placed for sale "as is" through its property management contractor.

With real estate prices soaring these days, and with thousands of homes going to foreclosure sale daily, a HUD home may be your best housing value for a residence or for investment property. Many homes are in good to excellent condition and are priced reasonably for sale within about two weeks. Be sure to log in to our website frequently for updates on available properties, especially on Fridays when the new property listings are posted.

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