HUD Homes Are Becoming A Good Bargain For Homebuyers And Investors

Have you considered HUD homes?

The department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) are currently working to avoid deepening the still ongoing nationwide foreclosure crisis and to assist the recovery of the US housing sector. The two federal agencies have begun a new initiative as part of a government program known as DASP (Distressed Asset Stabilization Program), which is intended to make it easier for investors to purchase pools of mortgages which are currently in default and are headed into the foreclosure process as well as individual properties which are at risk of foreclosure.

The program is targeted towards stabilizing neighborhoods in areas which have been hit especially hard by the foreclosure crisis by offering HUD homes for sale at accessible prices before they even reach publically available foreclosure listings. Prospective homebuyers and real estate investors alike who are interested in purchasing homes in the Chicago, IL, Newark, NJ, Tampa, FL and Phoenix, AZ areas will find literally thousands of distressed mortgage loans for sale – but for those interested in buying a home as a new residence, there are other places to search as well.

Websites like RealtyStore.com offer homebuyers as well as investors a convenient online source for finding HUD homes and an extensive database of foreclosure listings nationwide. While major real estate markets like the Chicago, New York City (including Newark), Phoenix and Tampa metropolitan areas will be convenient for many prospective homebuyers, Realty Store’s foreclosure listings and selection of HUD homes provide many other options in every part of the country.

Whether you’re interested in purchasing distressed assets like mortgage loans in default or buying a new home to move into yourself, there are many opportunities which have been created by the slump in the housing market. Investors may want to look at the possibility of generating a recurring income by becoming the servicer of distressed mortgages while at the same time helping to stabilize neighborhoods and communities battered by the foreclosure crisis. Homebuyers, of course, can purchase a home at near-record low prices, even as the housing market begins to pick up steam. In short, there have been few better times in recent memory to purchase a home, whether as a residence or as an investment and the best way to begin your search is to look at foreclosure listings and HUD homes covered by the federal Distressed Asset Stabilization Program.