The primary responsibility of HUD is the administration of programs concerned with this nation's housing needs, fair housing opportunities and developing communities. One of the programs HUD oversees is the Federal Housing Administration (FHA), which provides federal mortgage loan insurance to facilitate home ownership and the construction or improvement of housing. Occasionally a lender is forced to foreclose on an FHA-insured single family home, townhome or condominium when the buyers can no longer make payments. That lender can file a claim under FHA to have HUD pay the balance due on the mortgage and assume ownership of the foreclosed property. These properties then become "HUD homes".

• WEEKLY LIST OF HUD HOMES UP FOR BID
• HUD HOME BUYING GUIDE
• GET PRE-QUALIFIED FOR A HOME



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You may gain "instant equity" with just some time and a small investment. Remember many of these homes might have been sitting vacant for some time and are in need of some upkeep. The weeds may have grown, it may need some paint or other cosmetic repairs. Look beyond the minor repairs and see the "true value". It may just be your DREAM HOME!

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