Buying a HUD home with only $100 down payment

HUD homes are homes with FHA or VA loans in place which have been foreclosed upon. Decades ago, the words "HUD home" were nearly synonymous with heavily damaged, abused properties -- but with the extensive foreclosures we've seen nationally in the recent past, many HUD homes on today's market are in good condition.

What's more, HUD needs qualified buyers to buy these HUD homes. In November of 2007, HUD came out with a sales incentive program in an effort to move as many HUD homes as possible out of inventory and into the hands of families and individuals to live in them.

They developed the HUD $100 down payment program to allow buyers to use only $100 as their down payment in buying a HUD home, as long as:

• The home will be their primary residence
• They make a full price offer on the home, and
• They use an FHA-insured loan for the purchase

For more information, see http://100dollarHUDhomes.com.