src: pixfeeds.com
A HUD auction is a form of foreclosure auction except the original lender was a federal agency instead of a private lender. The United States Department of Housing and Urban Development (HUD), is the insurer of loans made through a variety of government programs, particularly FHA loans. When a lender forecloses on a government insured loan, HUD takes possession of the property.
Homes are listed on the Multiple Listing Service by a listing agent who generally receives a 1% commission for listing the property, but is otherwise unaffiliated with HUD.
Video HUD auction
External links
- Department of Housing
- Free Foreclosure Guide
Source of article : Wikipedia
0 Comments