HUD stands for the Department of Housing and Urban Development. HUD homes are government-owned foreclosures. We will go over everything in this article! What are HUD homes? There are also special programs for HUD homes like the good neighbor next door, and the $1 down payment program. There are different rules for investors and owner-occupants. HUD can be very confusing to those are not familiar with there system, but it makes sense once you know all the rules. I used to sell HUD homes as a real estate agent and was a part of hundreds of transactions involving HUD (I mostly invest in real estate now). HUD homes are foreclosures that had FHA loans, which are now owned by the United States government. HUD homes are a great opportunity to get a great deal, but HUD has very different rules for investors and owner-occupants.
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