First-time buyers are coming out in full force to buy HUD homes before the expiration of the federal tax credit. Aside from low prices, buying HUD foreclosures is easy and simple.
Missouri has initiated a federal incentive program designed to help first-time buyers purchase foreclosed homes for sale. Classes are held twice a month to educate prospective buyers about home buying and home ownership.
Georgia's local governments and housing organizations will receive $153 million in federal funds to help expedite recovery of the market struggling with foreclosure problems.
Several nonprofit organizations and community groups in California are vying for federal funds to be used for flipping houses into public housing. The recipients will purchase, rehabilitate and convert foreclosed homes into public housing.
Good news for South Florida! The state government agencies have joined forces in preventing the increasing number of foreclosures by spending $161 million to be given by the federal government, thus the state can now buy foreclosed homes in volume.
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