HUD Homes & Distressed Property in Phoenix, AZ
Are you looking for deals on HUD homes & Foreclosures in the Phoenix area? You’ve stopped at the right place. This is an up-to-the-minute list government foreclosures in the area of Phoenix.
What is a HUD Home?
A HUD home is a 1-4 unit residential property acquired by the U.S. Department of Housing and Urban Development (HUD) as a result of a foreclosure action on an FHA insured mortgage. Housing and Urban Development then becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. HUD homes are initially offered to owner-occupant purchasers (buying their primary residence). After owner-occupant only time-frame expires, any unsold properties are then available for investors.
What’s the advantage of considering a HUD homes?
- HUD pays for the initial appraisal
- Low down payments- as little of 3.5% of the purchase price for FHA financing
- HUD may contribute up to 3% of sales price toward your closing costs
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Please call 602.569.3600 to schedule a showing, for local information or with any questions. Century 21 Citywide Real Estate has extensive experience and knowledge of the foreclosure market.