HUD Homes For Sale In Jackson Michigan

hud homes for saleYou can buy real estate properties from the government at low and discounted prices through government foreclosures. A regular homeowner purchases a home with an FHA insured loan. If the home was insured by the Federal Housing Administration (FHA) , however, the foreclosure process happens a little differently. Because it is costly to oversee and maintain real estate owned properties, the government has a strong incentive to move these properties off the market as quickly as possible.

The U.S. Department of Housing and Urban Development (HUD) reimburses the lender for its losses in foreclosure, takes the property and turns it over to a management company for sale. Prospective home buyers who require financing must obtain financing by way of a lender, bank or mortgage broker.

The dollar home program is a direct sales program through which permits eligible Governmental Entities to purchase certain HUD Real Estate Owned (REO) Properties for …