what is hud in real estate

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Department of Housing and Urban Development

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  • What is a HUD in a real estate transaction?

  • What is a HUD in real estate? What Is a HUD-1? A HUD-1 form, also called a HUD-1 Settlement Statement, is a standardized mortgage lending document. Creditors or their closing agents use this form to create an itemized list of all charges and credits to the buyer and to the seller in a consumer credit mortgage transaction.

  • How does HUD pay for homes it buys?

  • HUD homes are sold online and only through approved real estate brokers. Costs paid by HUD on accepted bids for one of its homes include real estate broker commissions and closing costs the bidder is asking HUD to pay.

  • What is a HUD 1 form used for?

  • A HUD-1 form, also called a HUD-1 Settlement Statement, is a standardized mortgage lending document. Creditors or their closing agents use this form to create an itemized list of all charges and credits to the buyer and to the seller in a consumer credit mortgage transaction. Are HUD homes a good deal?

  • Where can I find HUD homes for sale?

  • HUD homes aren listed on conventional real estate websites, and can instead be found at hudhomestore.com, where you can shop for HUD properties by state or ZIP code. You never know what you might find in a HUD search, in what location, and at what price.

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