what does hud stand for in real estate
Best answer
Department of Housing and Urban Development
People also ask
What is the full form of HUD?
According to HUD, the abbreviation HUD means the Department of Housing and Urban Development. This is a cabinet-level federal agency in the United States. There are several major programs that the HUD administers.
What does it mean when a house is HUD owned?
The Department of Housing and Urban Development, or HUD, pays off the remaining mortgage and then puts it up for bid. In short, a HUD REO home攁lso known as a HUD home攊s a property without liens sold by the government often well below market value. Locating a HUD REO.
What is a HUD 1 form used for?
What is ‘HUD-1 Form’. The HUD-1 Settlement Statement is a form prepared by closing agents itemizing all charges imposed on a buyer and a seller in real estate transactions. The HUD-1 is used primarily to settle reverse mortgage and mortgage refinance transactions.
What is the Department of Housing and Urban Development (HUD)?
What Is the Department of Housing and Urban Development? Created as part of President Lyndon B. Johnson’s War on Poverty, the Department of Housing and Urban Development (HUD) was established as a Cabinet Department by the Department of Housing and Urban Development Act (42 U.S.C. 3532-3537), effective November 9, 1965.