First-Time Buyers Find HUD Homes a Good Buy

by cassy82 | October 21, 2009 at 08:28 am

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First-time buyers are coming out in full force to buy HUD homes before the expiration of the federal tax credit. Aside from low prices, buying HUD foreclosures is easy and simple.

HUD homes foreclosures are being taken off the market in great numbers. Thanks to first-time homebuyers who flocked to the market to take advantage of the federal tax credit of $8,000 before it finally expires by the end of November.

Industry experts said that almost anyone is eligible to purchase a property owned by the U.S. Department of Housing and Urban Development (HUD) as long as they have the cash or have been approved to take out a loan to fund the purchase.

Experts explained that HUD homes have undergone the complete foreclosure process which started when the homeowner defaulted on a loan guaranteed by the HUD unit, Federal Housing Administration (FHA).

By Cassiano Travareli