Government Foreclosed Homes

When home loans are defaulted on, and the lender is a federal agency such as HUD/FHA, Fannie Mae, or VA, those agencies become the manager of the foreclosure process. These agencies wish to unload the foreclosed home as quickly as possible, usually at a great discount from the market rate. Educate yourself on the details of locating and purchasing these government foreclosures, and you'll be on your way to a prime investment!

About Government Foreclosures

There are three main federal agencies that sell foreclosed homes. All government foreclosures are listed publicly, on websites and in classifieds. However, you will need the services of a realtor when you make your bid submission on the desired property.

To locate HUD, or FHA properties, see the website for the Department of Housing and Urban Development for further information. Fannie Mae properties are listed through the Federal National Mortgage Association. VA properties fall under the Department of Veteran's Affairs, and will be listed by that office.

Among these different agencies, you will find various conditions. Methods of negotiating contracts and making bids, as well as down-payment terms and the loan process, will vary. All of these government foreclosure properties have one thing in common, and that is that they present incredible opportunities to any investor savvy enough to understand the system!