When you think of HUD properties, you probably think of dilapidated properties that are badly in need of fixing up. However, HUD (the department of Housing and Urban Development) offers housing for those who normally cannot afford it. These houses are typically very nice. They’re in fact in fact so nice that people who can afford homes sometimes complain because HUD homes are nicer than their homes.
The problem is that sometimes these families who live in these HUD homes can’t pay their mortgages or rents, even at the discounted price they’re offered. This results in a foreclosure and the houses are then listed under HUD foreclosures for sale. This means that anyone can buy them. It’s a great opportunity for someone house hunting who is looking for a great deal on a home.