What's the difference between a HUD home and a Foreclosure?

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What's the difference between a HUD home and a Foreclosure?

2007-03-15 15:13:58 · 3 answers · asked by blazq420 1 in Business & Finance ➔ Renting & Real Estate

3 answers

A HUD home is a foreclosure, but was backed by HUD to the lender. HUD is now the one selling the foreclosed home.

All HUD homes are foreclosures, but not all foreclosures are HUD homes.

2007-03-15 15:21:17 · answer #1 · answered by Brian G 6 · 1⤊ 0⤋

HUD homes are financed / backed by HUD and most are not in foreclosure.
Many foreclosures coming to market in the next year will not be HUD homes , although some will.

2007-03-15 15:19:52 · answer #2 · answered by kate 7 · 0⤊ 0⤋

One is owned by Housing Urban Development and the other one defaulted on his mortgage to the bank.

2007-03-15 15:18:21 · answer #3 · answered by Akbar B 6 · 1⤊ 0⤋