The U.S. Department of Housing and Urban Development (HUD) helps many families achieve home-ownership. A HUD home is a residential property acquired by HUD after an FHA-insured mortgage is lost through foreclosure. See, when a property owner loses their home through foreclosure, HUD becomes the property owner. When that happens, HUD offers the home for sale in order to recover the financial loss from the foreclosure.
HUD Approved Housing Counseling Agencies (HCA)
Interested in buying a HUD home? You’ll need to get in contact with a HUD-sponsored housing counseling agency before you buy. Incidentally, HUD maintains a list of approved housing counseling agencies on its website. In Indiana, many of these agencies exist. Members of the network of approved Housing Counseling Agencies (HCA) and counselors help potential homeowners. See, they help potential buyers make responsible choices considering their own individual financial situations.
Who Can Purchase A HUD Home?
Actually, anyone qualifying for a loan within the terms of HUD requirements or with the needed cash can buy a home owned by HUD. Still, these homes are offered to owner-occupant purchasers first. This means that people who want to purchase a home as their primary residence get first dibs on HUD homes. See, this helps keep access to homes to help people become homeowners. Think about it. If investors were allowed to purchase within the same window, they could purchase most of the HUD real estate. Imagine if nothing remained for people looking to buy their family home. HUD home sales help families and communities.
HUD does not actually offer direct financing. Still, people in the market for a HUD home might be able to qualify for an FHA-insured mortgage. Still have questions? Let us help you figure out if a HUD home is right for you. Give us a call at 812-634-6969
Are You Thinking of Buying a Home in Dubois County?
Use our site to search homes for sale in Jasper, Dubois, Spencer, Martin and Davis counties and all of our surrounding areas. Unlike the “big name” sites out there, at Sell 4 Free Welsh Realty our site is directly connected to our local MLS and is updated with new homes every hour. By signing up for New Listing alerts you can stay on top of the newest homes for sale and get price change alerts so you can stay ahead of other buyers and beat them to the hottest deals!
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Newest Homes for Sale in Dubois County
View the newest homes listed in Dubois County in the last 10 days:
1312 Mill Street Jasper, Indiana
4 Beds 2 Baths 1,963 SqFt 0.101 Acres
Listing courtesy of Felicia Drew from Carpenter Realty LLC.
308 N Washington Street Huntingburg, Indiana
4 Beds 2 Baths 3,530 SqFt 0.320 Acres
Listing courtesy of Stacey Thieman-Wright from THIEMAN REALTY.
607 E 10th Street Huntingburg, Indiana
2 Beds 1 Baths 896 SqFt 0.141 Acres
Listing courtesy of Connie Thewes from HOFFMAN & MULLEN REALTY INC.