TAYLORVILLE HOMES for SALE ~ Michelle DeClerck, Broker/REALTOR
217-565-0628
HUD (Housing and Urban Development) INFORMATION PAGE
A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on a foreclosure claim.
Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following this period for owner occupants, unsold properties are available to all buyers, including investors.
HUD HOME STORE is the listing site for HUD real estate owned (REO) single-family properties. This new site provides the public, brokers, potential owner-occupants, state and local governments and nonprofit organizations a centralized location to search the inventory of HUD properties for sale. In addition, registered real estate brokers can place bids on behalf of their clients to purchase a HUD property.
