If you are a first time homebuyer or are in the low to moderate income range, buying a home listed through the department of housing and urban development (HUD) is an appealing option. HUD homes are actually available to anyone who can qualify for a mortgage. Although they are popular with lower income families, they are also appropriate (more…)

To the novice real estate investor foreclosures often look irresistibly attractive. Who wouldn’t want to make a quick profit of 50% or more? But whether a foreclosure deal is really sugar or merely sweet-tasting arsenic depends on a list of complex factors.

Foreclosure is a legal procedure in which a mortgage holder reclaims a property due to default on a loan. Some states in the U.S. allow ’strict’ foreclosure - the borrower has a certain period to make the debt current, after which the title reverts to the lender.

Needless (more…)

Foreclosure begins when a property owner defaults on the mortgage of a property, mainly due to financial difficulties or the inability to keep up with the mortgage payments for some reason or another. In the event that a property succumbs to a foreclosure, it’s most likely that the property has not been maintained as it should have been. This means that perhaps the roof is in dire need of repair, a damaged foundation or the landscaping has been severely neglected, or a number of other maintenance or repair issues that may be costly. Some (more…)

If you are considering purchasing a home through the HUD (Housing and Urban Development) program you will need to understand that it is a very different procedure than buying a home on the open market. There are a myriad of issues concerning the application and approval process. If you are willing to work with HUD however, you can find homes that suite your taste and budget. Understanding what HUD is and what your role is before and during the process is paramount.

The FHA (Federal Housing Administration) was created in 1934 to spurn economic growth, and to provide reliable housing for (more…)