FHA Foreclosure Listings

A FHA foreclosure is a mortgage with insurance from the Federal Housing Administration which has fallen behind in payments and as such has forced a foreclosure upon the property held under the mortgage. Therefore you can find FHA foreclosure properties for sale from government agencies and there are more of them available now than ever before.

It is believed that there FHA borrowers are more vulnerable to foreclosure when financial problems arise due to the fact that they have less resources than other borrowers. Whether that is the case or not is debatable, however enquiries and investigations are being conducted to discover whether or not FHA borrowers are at a higher risk of foreclosure.

FHA foreclosure provides a unique opportunity for buyers, with many incentives and loan plans for those looking to buy.

FHA is part of Department of Housing and Urban Development (HUD) and you can find listings of FHA foreclosure properties on sites like Foreclosure.com. They may either be called FHA foreclosures or HUD foreclosures but they essentially refer to the same types of foreclosure property. This website of foreclosure listings is the best one for both investors and those looking for a new home for their family. It’s constantly updated and is the most comprehensive source for foreclosure listings. There is a monthly fee to join, but you can cancel anytime. If you just need to do some research, they offer a seven day free trial, and it’s no hassle to quit after seven days  (I did it online in under a minute).

If you have a FHA insured mortgage and think you are close to foreclosing or have already been issued a notice of default then right now is the time to act. HUD has released some guidelines and tips to help you avoid foreclosure. These include not ignoring the problem - a big mistake many people make. They also advise that you contact your lender right away and to respond to all correspondence from them promptly. Then you can contact a HUD approved counsellor for specific help but they recommend avoiding foreclosure prevention companies and recovery scams.