, or simply to rehab and sell for a fast profit. These foreclosures are offered to the general public through real estate agents that specialize in the sales of government homes.
HUD and the Veterans Administration (VA) foreclosure listings dominate the Government foreclosure market. Lending institutions are protected by the insurance provided by Fannie Mae and Freddie Mac on low interest loans offered to those who buy government foreclosures. When homeowners are not able to make their payments the banks refer back to the insurance attached to this mortgage loans. These homes then become government homes. Sometimes properties become government owned when they are seized from criminals.
There are large choices of available government owned listings including single-family homes, condominiums, and town houses, throughout different types of neighborhood all over the country. Prices for these homes may vary from one state to another. Some of these government foreclosure homes are older, but many of these available properties are comparatively new.
About the author
Ernani Uchoa is the author of Foreclosure Deals - Online Leader of foreclosure listings. Search more foreclosure articles for free at http://www.foreclosuredeals.com.