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finding gov repossessed homes

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How do you find government-repossessed homes in the Greater Portland/Vancouver area?

The U.S. Department of Housing and Urban Development acquires properties from lenders who foreclose on mortgages insured by HUD. These properties are available for sale to both homeowner-occupants and investors.
You can only purchase HUD-owned properties. HUD will pay the broker's commission up to 6 percent of the sales price.
Down payments vary depending on whether the property is eligible for FHA insurance. If not, payments range from the conventional market's 5 to 20 percent.
One caution. HUD homes are sold "as is," meaning limited repairs have been made made but no structural or mechanical warranties are implied.

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Last Updated ( Thursday, 04 September 2008 )

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How do you find government-repossessed homes in the Greater Portland/Vancouver area?

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