The FHA and HUD both offer low-interest loans to those who qualify to purchase homes on their low to moderate income. Distressed properties have to go through the same process as all the other HUD homes, but may be reduced in their price according to the damage done to the house.
Buying a HUD home is a great way to save money during the home buying process. If you are looking to get a bargain on your new home then you may want to give serious consideration to the options that HUD homes and other foreclosures provide.
Closing costs might be the proverbial financial straw to break the camel's back, whether you're buying a HUD home or not. Distressed properties are not always HUD homes, but a lot of times things happen to homes that are foreclosed , because the owner is upset about losing their property.
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