What’s a HUD house?
These federal foreclosed-on fixer-uppers can be bargains, but they come with caveats. What to know before you bid.
David McMillin is a contributor to Bankrate covering personal finance, including mortgages, real estate, student loans and auto loans. From budgeting tips for individuals to funding strategies for aspiring business owners, his goal is simple: to help readers figure out how to save more and stress less. As a musician, he has spent a lot of time worrying about money, as well, and he applies the lessons he’s learned from that financial balancing act to offer practical advice for personal spending decisions.
McMillin studied writing at DePauw University. He is based in Chicago and loves to discover new places. He only needs to visit four more states (Alaska, Oklahoma, Utah and Vermont) to check all 50 off his list.
These federal foreclosed-on fixer-uppers can be bargains, but they come with caveats. What to know before you bid.
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The HUD-1 settlement statement is only required in certain cases.