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HUD Housing

The US Department of Housing and Urban Development (HUD) is playing a key role in helping senior citizens, people with disabilities and low income families by assisting them with the homes that can be bought or taken on rent. Different types of Home Mortgage Loans can be taken from the Federal Housing Administration (FHA), which is the section of HUD.

We have tried to put some information on HUD Housing, how to buy it and ways to find these HUD homes. So for this go through these questions.

What is HUD housing?
HUD Housing or HUD homes are the homes that are owned by the US Department of Housing and Urban Development. These homes are foreclosed upon as there is a non payment of housing loan taken by borrower from the Federal Housing Administration (FHA), which is HUD's part.

How to find HUD homes?
HUD homes are not listed in the private listing services. But instead of this the HUD housing list can be checked with the certified property broker.

Who are certified brokers of HUD?
Certified HUD brokers are registered with the US Department of Housing and Urban Development. These brokers must get registered through M&M Contractors by fulfilling the Single-Family Acquired Asset Management System, (SAMS) forms. These forms are also called SAMS 1111 and 1111A. After registration the broker will get Name Address Identifier Number (NAID#), which is issued by HUD.

From where to get HUD housing list?
HUD housing list is not available with every broker but it is present only with the certified real estate brokers. These brokers put the list of HUD Homes in their website as Multiple Listing Services that can be checked and then the concerned broker can be contacted.

Can I Directly buy HUD home?
No. To buy HUD home you will have to go through the certified broker, who will make bid on your behalf.

How to buy HUD home?

To buy HUD Homes first of all select the broker and check the housing list. After this broker will make a bid with HUD. If that bid has been accepted then the notification of same is sent to the broker withing two days. After this you will be given settlement period that last for 30-60 days, starting from the time of making a bid. Once everything has been done properly, you can own the HUD home.
What are HUD Housing Programs?
Few housing programs that are run by HUD are:
  • Fair Housing Assistance Program (FHAP)
  • Housing Choice Voucher
  • HUD Housing Section 8
  • HOPE I
  • Housing Counseling Program
  • Home Equity Conversion Mortgage Program (Reverse mortgage)
  • Property Improvement Loan Insurance (Title I)
  • Rehabilitation Mortgage Insurance
How HUD housing applications are processed?
Online there is no online application processing but for any housing program and for offering the application for the same you will have to contact the local HUD office.

What is HUD rental assistance?
For rental assistance there are housing programs that are run by HUD. Directly HUD does not provide help but you can contact Public Housing Agency working in your area that can provide whole lot of information on available programs, eligibility criteria and how can you apply for that.

Can I get HUD housing loans?
HUD does not provides home loans but you can get this through the Federal Housing Agency (FHA) that is a part of HUD. Mortgage lenders who are associated with FHA can give loan that are insured by FHA. So you can get HUD Mortgage from FHA for buying, repairing or renting a home.

What are HUD housing for seniors and assistance ?
There are many housing programs that are for the seniors. Along with this housing counselor gives assistance to the seniors in finding, renting or buying a home. Along with this FHA can be consulted for reverse mortgages for seniors,

What are HUD Housing Grants?
HUD Housing Grants are the funds that are available to different groups and organizations through Notices of Funding Availability (NOFA). These grants are then used by these organizations for helping the low income families, elder people and individuals with disability.
HUD Housing Program
This is Web link provides the list of housing programs provided by HUD. You can go through the details of each by clicking the relevant link.
HUD Housing Grants
Homeownership and Opportunity for People Everywhere (HOPE I) has been discussed on this page, which for the low income families for buying homes.
HUD Housing For Seniors
If you are looking for the information on HUD housing for seniors then you can check this page for different housing programs, home loan, housing counselor etc. Senior citizens can also find info on frauds that are faced by these citizens.

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