Investing in HUD real estate foreclosures is a great way for people to pick up homes at bargain prices. Other HUD perks: low down-payment requirements or sales allowances you can use to pay closing costs or make repairs on the HUD home—not to mention, FHA financing options. The process of buying a foreclosed HUD home varies from a conventional sale in a couple of ways, so here’s what you’ll want to know before you venture down the HUD real estate path.
FHA will waive the required minimum down payment of 3.5{7c352f4fa08585812fe49d64b966ab1fc9eda250e0643651a7855d798aa89d13} in favor of a measly $100 when you make …