RE/MAX N.O. Properties is an Approved HUD Listing Broker; Miriam Bernstein is an Approved Listing Agent for HUD Homes.
A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.
The following information is provided to as an introduction to the process through which HUD homes can be purchased. You can either scroll down the page, or access specific topics through the following topic menu. Additional links provided in the menu to the right provide access to FHA program and policy information for homeowners, homebuyers, and members of the mortgage lending and real estate industries.
In order to view a HUD home or to place an offer you will need to use a real estate agent. HUD homes are listed on the multiple listing service. The first 30 days that a HUD home is listed on the MLS it can be purchased by “owner occupants, non profits and first responders” and if it is not purchased during those first 30 days it is opened up to investors. The fine for claiming to be an owner occupant if you are really an investor is $250,000.00.
To view all HUD properties available for sale in Louisiana state, please visit: www.HUDHOMESTORE.com
Good Neighbor Next Door
Buying a home through HUD’s Good Neighbor Next Door initiative is designed to encourage renewal of revitalization areas by providing an opportunity for law enforcement officers, firefighters, emergency medical technicians and teachers to purchase homes in these communities. HUD provides a substantial incentive in the form of a 50% discount off the list price of eligible properties.
Non-Profits
The Federal Housing Administration (FHA) offers community and faith based nonprofit organizations the opportunity to purchase HUD homes at discounts up to 30%. With this discount, local nonprofit organizations invest in their communities through property rehabilitation and resell to first-time homebuyers and low to moderate income families.
You can go to my property search above and search a location and price which will include HUD homes or you can go to the HUD site and search just HUD homes. On my search site it will state if the home is a HUD property.
