A Department of Housing and Urban Development (HUD) home is a residential property acquired by HUD due to a foreclosure on an FHA-insured mortgage. HUD offers the property for sale in order to recover the loss on the foreclosure. HUD homes will need some level of repair. While anyone can buy a home for sale by the U.S. Government you must work with a real estate agent or broker who is authorized to sell HUD homes. (more…)