Remove Equity Remove FHA loan Remove Inspection Remove Real-estate owned
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What Is a HUD Home? Are the Savings Worth the Risks?

HomeLight

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. It’s also important to know what the inspection process involves, depending on the house’s location. “In

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13 Steps to Buying a Bank-Owned Foreclosure

HomeLight

The home is now bank-owned (sometimes also called REO, or “real estate owned”). If the former homeowner defaulted on an FHA loan, the home may become inventory for various HUD programs, including the Good Neighbor Next Door program. The process of buying a bank-owned foreclosure.

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