What is a "HUD Home"?
Answer: When someone with a HUD insured mortgage can't meet the payments, the lender forecloses on the home; HUD pays the lender what is owed; and HUD takes ownership of the home. Then they sell it usually at below market value as quickly as possible. Keep in mind, HIGHEST bidder will win.


Who can buy a HUD home?
Answer: Anyone! If you have the cash or can qualify for a mortgage, you can buy a HUD home, but you must live in the home. No investors allowed initially (see below).


Are HUD Homes meant for people with low incomes?
Answer: HUD homes range in price, but most are affordable for low- and moderate-income Americans.


Is it true I can get a HUD Home for a dollar?
Answer: No. HUD sells homes at below market value - lately, with such limited homes on the market, winning bids are much higher than HUD's price listed.


If the HUD Home needs repairs, will HUD make them?
Answer: HUD Homes are sold "as-is," without warranty. That means that HUD will not pay to correct any problems. But even if a HUD Home needs fixing up - and not all of them do - it can be a real bargain! For example, HUD's asking price on the home will reflect the fact that the buyer will have to invest money to make improvements.

We encourage you to get the home professionally inspected after your offer is accepted and before you close on your deal. HUD does allow you to turn on the utilities for 48 hours for your peace of mind in knowing the condition of the systems.


How do I buy a HUD home?
Answer: Contact Mike Belanger at(518)281-3108. He is licensed and HUD approved. With over 250 HUD homes closed in the past 5 years, his experience will make this a easy and succesful transaction for you.

Normally, HUD Homes are sold in an "Offer Period." At the end of the Offer Period, all offers are opened and, basically, the highest bid is accepted. If the home isn't sold in the initial Offer Period, you can submit a bid any business day. If your bid is acceptable to HUD, you will be notified, usually within 24 hours.


How can I find out what HUD Homes are for sale?
Answer: Right here! We update our lists of HUD Homes for sale daily. New and relisted homes are posted every Friday, Keep in mind, bids are due 10 days later for new listings and 5 days later for relisted homes. Bid deadlines are always noted on the on our listings.

If you see one that interests you, contact us ASAP.


How can I get a loan to buy a HUD Home?
Answer: HUD doesn't make loans directly. But we help you find a HUD approved lender that matches your need and credit situation.

Can I buy a HUD Home as an investment?
Answer: Most HUD Homes are initially offered on a priority basis to owner occupant purchasers (people who are buying the home as their primary residence). Following the priority period, unsold properties are then available to all buyers, including investors.