HUD Foreclosures

HUD foreclosures are foreclosure proceedings handled by the US Department of Housing and Urban Development. HUD insures the lender's mortgage loans, so that if the lender forecloses on the home, HUD pays the lender what is owed, then takes ownership of the home after Home Foreclosure. After Home Foreclosure, HUD sells the home at market value as quickly as possible.

HUD foreclosures are only on homes with HUD-insured mortgages, which are designed to help people buy or refinance their homes with a low down payment. These loans are made through HUD-approved lenders, not through HUD, although once the home is foreclosed upon and repossessed, HUD becomes the owner of the property. HUD foreclosures range from single family residences and condominiums to 2-unit, 3-unit and 4-unit properties.

Home Refinancing

Home refinancing can be a great tool to prevent Home Foreclosure. Home refinancing occurs any time that existing loans are paid off by a new loan, but they can also help prevent Home Foreclosure by lowering your monthly payments. Refinancing your home can take the form of Home Mortgage Refinancing or refinancing secondary financing, like Home Equity Loan Refinancing.