HomeLight
JUNE 28, 2021
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. This loan does have income and location eligibility requirements. FHA loans. No haggling.
Easy Agent Pro
DECEMBER 29, 2020
In February, pre-CARES Act, 10,438 FHA loans were in foreclosure. If it doesn’t sell, it becomes a REO (real estate owned), or bank-owned property. Naturally, you’ll run up against competition for these leads, especially from investors. Trustee’s Sale: The home will be put up for sale at auction.
HomeLight
SEPTEMBER 1, 2020
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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