HUD HOMES/ VA HOMES
What is a HUD Home? When
someone with a Federal Housing Administration (FHA) insured mortgage
can't meet hte payments, the lender forecloses on the home; FHA pays the
lender what is owed; and then the United States Department of Housing
and Urgan development ( HUD) takes ownership of the home. Then HUD sells
it at market value as quickly as possible.
How are HUD homes Sold?
HUD homes are listed on the MLS and on the internet. Registered brokers
and agents ( Homes that Click is registered) may place bids
electronically on these properties on behalf of a purchaser. The bid
with the highest net to HUD is selected as the provisional winner
subject to receipt of all required documents.
Who can buy a HUD Home?
Any individual who can qualify for a mortgage or who can pay cash may
purchase a HUD home. Purchasers must use a broker or agent ( Homes that
Click ) who is registered with HUD to place a bid on the property.
Purchasers must also have a pre-qualification letter from a lender or
proof of cash funds in the amount of or greater than the property they
are purchasing.
Homes that Click has agents experienced in submitting HUD bids. Contact us now!
http://www.mcbreo.com/st_ohmain.htm
Veterans Administration Repossessed Homes
Similar to HUD homes, these homes have gone though the
foreclosure process and the Veteran’s Administration is offering the
home for sale because a military veteran has not been able to make the
payments. If you find a VA home on the website, contact your Homes that
Click buyer agent who will assist you in making your offer. To see a
list of current homes for sale by the Veteran’s Administration go to:
http://www.ocwen.com/reo/reofindbystate.cfm Homes that Click agents are licensed to show and sell VA homes.
You do not need to be a Veteran to purchase a VA repossessed home.
