should i buy a foreclosure for my first home

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About Buying HUD Homes | / U.S. Department of Housing. – A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an fha-insured mortgage. hud becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.

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Should you buy a foreclosed home? | HowStuffWorks – Interest rates are low, foreclosed properties are plentiful, and it’s a buyer’s market — so, should you buy a foreclosed home? You’ve got to know what you’re doing and pick the right house if you don’t want to lose to your shirt (and your savings). Whether you want to fix up and flip the house or.

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How to Buy Foreclosure Homes: Beginners Guide I’m a first home buyer. I want to buy a foreclosure home. They seem to be the cheapest. The most I would be able to pay a month are $1,400. Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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Get up to 5 Offers at to see how much you can afford. You could save a significant amount of money when you buy a foreclosure home. Studies have shown that the average discount for a foreclosed home (when compared to regular, non-distressed properties) is around 27%. When you combine.

Should I accept an 8.4% 20 year fixed mortgage if I have a foreclosure/bad credit? – I have recently moved to Florida and am interested in buying a house. I am going through a divorce and my husband is in our original home in Massachusetts, which is pending foreclosure. I wouldn’t.

Getting a new mortgage after a foreclosure – Answer: As foreclosures surged, the agencies that buy most. this affect my credit rating? If I apply for a loan after being employed for, say, six months at the new firm, will the short time at.

City sells tax-foreclosed property to councilwoman’s daughter – The Ethics Handbook for Michigan Municipalities states a public servant should not participate in the negotiation. The Revite Group’s first act was to buy two properties on East Battle Creek Street.

Buying a foreclosed home is a little different. "Buying a foreclosure is definitely a bit of a grind. It’s not easy," says Robert Jensen, broker and president of the Rob Jensen Co. in Las Vegas.