Don Hodges, Owner and Broker of ArkHoma Realty LLC in Kansas, OK recently announced that his company is now able to accept bids on HUD foreclosures from both investors and persons wanting to purchase and live in a HUD-owned property. Not all real estate agents in the United States participate in HUD programs and many are not able to give advice to their clients wishing to receive HUD assistance. All bids which are received by HUD must come through a participating real-estate agent and cannot be handled directly by the buyer.
HUD is also loosely connected to the the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae), both of which deal with mortgages in the United States. The Federal Housing Administration (FHA) falls more closely under HUD, helping to guarantee mortgages to low-income homeowners.
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