Manufactured (HUD) Homes
These days HUD foreclosures are everywhere. A listing of Houston homes in pre-foreclosure may prove well worth its price, because it will direct you to highly motivated sellers who want to avoid having foreclosures on their credit histories. HUD Homes are sold as-is and buyers need to be diligent when preparing their offers.
Step 2. Finding a house – HUD offers a weekly list of available homes for sale. Another way is to allow a HUD-approved real estate agent to help you find properties being sold on the market just like any other property. HUD notes on its website that buyers interested in properties that need renovation should apply for what is called a 203(k) renovation mortgage through the Federal Housing Administration.
These agents with many years of experience in handling foreclosure properties will be able to guide you from filling the application till the completion of the loan process. …