subject: Hud Listings: Achieving The Federal Governments Mission [print this page] Article 25 of the Universal Declaration of Human Rights proclaims that everyone has the right to a standard of living adequate for health and well-being. Besides food, clothing, and medical care, the United Nations points to housing as one of the necessities that everyone has to acquire and enjoy to be able to survive.
This particular article suggests that every nation ought to ensure that every citizen is really exercising his/her right and is enjoying the access to proper housing. The federal government is expected to establish agencies that develop and offer programs to everyone, especially those who cant afford to acquire shelter.
In 1965, then U.S. President Lyndon Johnson signed into law the Department of Housing and Urban Development Act that pushed for the creation of the U.S. Department of Housing and Urban Development (HUD). The establishment of this cabinet department has a primary goal of developing and executing policies on housing in urbanized areas across the country. This is a proof that the federal government cares for each of its citizens.
Relatively Low-Cost Homes
HUDs mission is to create strong, sustainable, and inclusive communities, as well as quality affordable homes for all. One of the departments popular programs has something to do with foreclosures. It provides free listings from which interested buyers and investors can view the most updated and comprehensive list of acquired distressed real properties that are currently up for sale.
HUD homes are basically FHA-insured properties that have gone through the entire process of foreclosure. FHA mortgage insurance, as defined by the U.S. Department of Housing and Urban Development, offers lenders with protection against losses as the result of borrowers/homeowners defaulting on their mortgage loans. Hence, at the time of foreclosure, HUD (as has been warranted via the FHA insurance) pays off the originating lender and acquires the said federally-insured residential properties.
HUD now acts as the lender authorized to resell the foreclosed homes. Of course, the properties can be bought at the cheapest prices possible.
Websites to Trust
Of all the online sites that provide listings of available distressed homes, HUDs site is, no doubt, the most reliable source. Needless to say, it gives updated sets of information that relate to foreclosure and the entire industry.
ForeclosureMagic.com, an online data service provider, helps investors and buyers too in finding properties that can be found in their desired locations. It has an enormous database that will not only let buyers find their dream houses but also help them effectually purchase them using the information provided on the webpage.
If you want to have access to HUD listings of foreclosed homes, simply register and become a member. Activate your free account now at http://www.foreclosuremagic.com/.
