Locating HUD Foreclosures  

HUD-owned properties can be found by contacting the U.S. Department of Housing and Urban Development. They have all of the information from lenders who foreclose on Northeast Florida homes with mortgages from HUD. These homes are available to investors and homeowner-occupants. A HUD property can only be purchased through a licensed real estate broker. The down payments for a HUD property is adjusted based on the property’s eligibility for FHA insurance. If the property is not eligible, the down payment typically ranges anywhere from 5 to 20 percent. Every offer must include between $500 and $2000 of earnest money. HUD homes may be sold as is. Knowing what you are getting into before making a final decision is imperative. Contact your Northeast Florida realtor if interested in these properties.

http://www.hud.gov/homes/index.cfm   is the link to HUD Homes, the official website for U.S. Department of Housing and Urban Development