Welcome to the
HUD Homes & VA Homes information site
HUD homes and VA
homes are two types of homes owned by the
U.S. Government and offered for sale to potential homeowners and real
estate investors. The draw of HUD and VA properties is that they can
often (but not always) be purchased at a significantly reduced market
value.
At any given time, there are around 30,000 to 40,000 homes in HUD and
VA inventory. They can be found
in every state, as well as Puerto
Rico, Guam, and the U.S. Virgin Islands.
If you are representing a nonprofit organization that deals with
housing issues (i.e. homeless shelter, community housing initiatives,
etc.), HUD also offers a special sales program that offers the
properties at an additional discounted price.
Please visit the FAQ if you have additional
questions about what HUD and VA homes are.
What
is a HUD home?
When
someone with a mortgage insured by HUD cannot
meet their payments, the bank or lender forecloses on the home. HUD
takes ownership of the property by paying what is owed, and then
HUD sells the home at market value as soon as possible.
What is a VA Home?
Similar
to HUD, a VA home is a property that was financed using a VA guaranteed
loan. When the owner fails to pay the mortgage, a foreclosure takes
place and the VA sells the home at market value.
Purchasing
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Calculator Disclaimer: This
site is not run by or endorsed by the U.S.
Government. This site provides information about HUD and VA
home purchasing only. Visitors
should contact a real estate agent and or a
lawyer before making any property purchases.
