How does buying a HUD home work?

A HUD home is a one to four unit home (or condo) that was financed
with an FHA insured mortgage. When an owner fails to make the monthly
mortgage payments, the mortgage lender forecloses on the homeowner.
After the bank takes back the home, the bank will seek reimbursement
from Federal Housing Administration (FHA) on the loss. In other words,
HUD/FHA will buy out the bank and take ownership of the house. FHA is a
division of the Department of Housing and Urban Development, also known
as “HUD”. After HUD takes ownership of the home, the FHA will attempt to
sell the property through an online auction. FHA foreclosed homes are
commonly called “FHA HUD homes”.

Here are the steps to buy a HUD home at the HUD home store:

Step #1 – Get pre-approved!

When you make an offer to HUD for a FHA foreclosure, you
are required to

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How does foreclosure work?

Foreclosure is when the lender takes back property when the homeowner fails to make payments on a mortgage. Foreclosure processes differ by state. 

Typically, if you fall a few months behind on your mortgage payments, the foreclosure process may begin (although the process can begin earlier or later). Don’t wait for the foreclosure process to begin. Reach out for help as soon as you think you might have trouble paying your mortgage. 

The foreclosure process generally may proceed in one of these ways depending on your state: 

  • Judicial foreclosure. This requires that the process go through a court where the borrower can raise defenses.
  • Non-judicial foreclosure. This is done without filing a court action and is carried out by a series of steps, including required written notices under a “power of sale” clause in the mortgage or deed of trust.

Foreclosure processes require that the borrower(s) be notified regarding the

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Why hire a contractor if subcontractors do all the work?

Good contractors can bring piece of mind, knowledge of industry standards and project management expertise. But they also bring tangible, necessary things to the job: a license, insurance and worker’s compensation. If you act as the general contractor yourself, you assume liability for injuries and property damage.

Perhaps the most stress relief comes from the fact that the general contractor is responsible for the quality of all the work he or she oversees as part of the contract. If something goes wrong during the construction, it’s up to the general contractor to get it fixed. The cost of those repairs comes o­ut of the contract budget, not your pocket.

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Knowledge of building codes, appropriate materials, proper construction methods and safety — both during and after construction — also is a key resource that a general contractor brings to your project. This knowledge saves you the time and trouble of

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What Will Happen To Commercial Real Estate As More People Work From Home? : NPR

The coronavirus pandemic forced many people to work from home. NPR looks into what remote work from home could mean for commercial real estate.



AUDIE CORNISH, HOST:

People are going out less and working from home more because of the coronavirus pandemic. But what will happen to all the office buildings and retail space that depend on people leaving their homes and going to work? Stacey Vanek Smith and Cardiff Garcia from our daily economics podcast The Indicator From Planet Money look into what working from home could mean for commercial real estate.

(SOUNDBITE OF ARCHIVED NPR BROADCAST)

CARDIFF GARCIA: Steve Rappaport has been in the commercial real estate business in Manhattan for 15 years. And he says it is not for the faint of heart.

STACEY VANEK SMITH: You have to hustle for everything.

STEVE RAPPAPORT: Yep, so no deals, no commission.

VANEK SMITH: And, of course, it’s not

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PulteGroup Reimagining Homes for Healthy, Work from Home Living

All Pulte Homes to be designed around six consumer-inspired healthy living concepts amid COVID-19 environment

National homebuilder PulteGroup, Inc. (NYSE: PHM) announced a new series of Pulte Homes features designed to meet the needs of today’s homebuyers navigating the “new normal.” Based on the results of in-depth consumer research, these innovative offerings are focused on healthy living at home, added storage opportunities and creating an environment for increased home-based activities, including work, exercise, learn and play.

“The pandemic has clearly changed what people want and need from their homes,” said John Chadwick, Executive Vice President and Chief Operating Officer of PulteGroup. “In addition to being a place to eat, relax, and sleep, homes must now support working and/or learning from home, help to keep us healthy, be able to store more vital supplies, and provide space for indoor and outdoor play; all things Pulte Homes is now offering.”

As Pulte

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This year’s Triangle Parade of Homes tour features designs with quarantine, work from home in mind

The opportunity is back to meander through meticulously crafted homes. Parade of Homes is returning during COVID-19 and organizers are putting several safety precautions in place.

This year’s Parade of Homes features designs ideal for quarantine

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At a home in northern Wake County, visitors marvel at a glass-encased staircase, check out imported wood or float through an expansive kitchen perfect for entertaining.

Builders of the 6,000-square-foot home describe the architectural style as British West Indies, and the outdoor living features will surely make you feel like you’re on vacation.

“Especially in the evening and at dusk when it’s lit up, it just adds a whole new feature,” Raleigh Custom Homes Lead Designer Connie Allen said.

Multiple TVs are set up in the lounge area. There’s space for alfresco cooking and dining. A hot tub and fountain are by the pool, ideal for families these days.

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