Buying HUD Foreclosures

South Carolina Real Estate is not in such a negative environment as you hear on the evening news about other states.  But that does not mean we do not have a large number of foreclosures in South Carolina and certainly here in Columbia SC and the midlands.  Defaulting home owners using FHA Financing will fall under the Housing and Urban Development (HUD).  As bad as it is to lose a home to HUD foreclosure or any other form of foreclosure, it is the only way for the market to correct itself from over inflated home prices and get home owners back to reality and purchas homes that we can afford.  Obviously, losing a home to foreclosure will leave one in a desparate situation until they can get back on their feet and recover from a very difficult time.  On the bright side, home prices are dropping to more realistic prices and allowing others to purchase a home at a very affordable price.

One consideration of many home buyers today are HUD Foreclosures.  Many of these homes can be purchased with significant equity and little repairs necessary.  Purchasing a HUD home is very different, and for the better, if I may say so myself.  To start with, home buyers must use a HUD approved Real Estate Broker, such as myself or my guest on this weeks show, Sherman Jones with ERA Wilder Realty.  Upon finding an approved Broker, all offers must be made on line through the HUD website, www.HUDHomeStore.com.  HUD will respond within 48 hours with an approval or rejection of your offer.  Sherman Jones has a personal website to visit for his contact information, www.jonescorealty.com. 

Even if one buys a HUD Foreclosure in need of repairs, the repair costs can be financed in the purchase price by using the FHA 203k loan.  There is another program that will allow you to purchase the home with just $100 as a down payment.  There are many other loans and programs available to buy a HUD home or any other home you may desire.  To make sure you get the right program for you and your needs and objectives, I highly recommend you speak to Erica West with New American Mortgage.  Erica has been putting the right program together for her clients for many years and she will help you get off on the right foot also.  Erica does not charge any Origination Fees and can have your loan complete and ready to close with seven (7) days!!  Contact Erica by email at Erica.West@newamerican.com or by phone at (803) 528-5019.

With so much going on in the South Carolina Real Estate market today, what a great time to get your SC Real Estate License and begin a new career or just to make some extra money throughout the year.  We can help you achieve the level of Success you desire at the Real Estate School for Success.  Please check out our website at www.RealEstateSchoolforSuccess.com.  for class dates and contact information.  Use the following discount code below to receive a 15% DISCOUNT on any class you register for from our website.

DISCOUNT CODE is:  HUD

   Click Here to listen to the HUD Foreclosure Radio Show