Tag Archives: hud homes in Niagara Falls

What is a HUD Home

Question 1:What is a “HUD Home”?

Answer: When someone with a HUD insured mortgage can’t meet the payments, the lender forecloses on the home; HUD pays the lender what is owed; and HUD takes ownership of the home. Then the home is appraised and a real estate broker is hired to sell it at market value as quickly as possible. Continue reading