HUD Homes in Georgia
The U.S. Department of Housing and Urban Development (HUD) oversees the Federal Housing Administration (FHA). Whenever an FHA insured loan is foreclosed it becomes a "HUD home". In the arena of foreclosures, HUD homes can be a pretty decent deal for an owner occupant buyer.
- In Georgia, an approved HUD home can be purchased with an FHA loan using only $100 down payment.
- HUD homes have already had an inspection done. You should always get your own inpsection but the one provided will still give you good background information about the home.
- On some of the homes that need repairs, there is money already set asside that HUD will allow toward those repairs.
- The homes are sold by an online bid process with the end date posted. No more going to look at a home then finding out it went under contract yesterday. Of course there is also no gaurantee that you will have the high bid.
Currently there are over 100 HUD homes in Cobb priced under $100,000. There are many, many more in higher price ranges.
If you are searching for a home and are interested in HUD homes, shorth sales, bank foreclosures, or just a downright good deal, give me a call or email. I'm always glad to help!
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