HUD homes are foreclosure homes owned by the government as a result of repossession. To investigate whether receiving US Department of Housing and Urban Development (HUD) housing assistance is associated with improved access to health care, we analyzed data on nondisabled adults ages 18-64 who responded to the 2004-12 National Health Interview Survey that were linked with administrative data from HUD for the period 2002-14.
Visit Project Porchlight to access free financial recovery counseling and personalized assistance for disaster survivors under a foundation-assisted grant program, offered by Money Management International (MMI), a HUD-Approved Housing Counseling agency.
Regardless of whether the property is being financed with an FHA insured mortgage, HUD does not guarantee or warrant that the property is free of visible or hidden defects, termite damage, lead based paint, or any other condition that may render the property uninhabitable or otherwise un-useable.
This is because you will face a Catch-22 if you attempt to use a traditional purchase loan to buy the property: the bank won’t lend you the money until the required repairs are complete, and you aren’t allowed to start repairs until the house has been purchased.
Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself.