You hear about HUD homes but you might not know exactly what a hud home is.  Let me explain.  HUD stands for The United States Department of Housing and Urban Development.  They oversee FHA.  FHA is Federal Housing Administration.  FHA provides federal insurance against default on home mortgages.  If a property is foreclosed on with an FHA loan, the lender then files an FHA insurance claim on the unpaid loan balance and conveys title to HUD.  The home then becomes a HUD owned home.  For information on HUD homes call John Horton at 812-568-3306 or e-mail us at JohnRHorton@remax.net   For more information on Newburgh Indiana click here.

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