Could anyone be so kind as to direct me to a company that sells Hud homes in pa? thanks for your help. I love this board!

here is the website with the hud listings--there is a place to look up agents for each city.

http://www.hooksvanholm.com/PropertyPennsylvania.aspx

If you are buying for investment you will fare much better buying pre-foreclosure or reo.Hud usually is geared toward owner occupants waiting for long periods before reducing only 5 to 10 percent.

No actually I want to buy a foreclosure to live in. Can you please explain to me what you mean by reducing only 5 to 10 percent. Also how do acquire preforeclosure listings and how sure am I of finding a property like that.

Sorry for all the questions as I am just starting to get my feet wet.

Thanks

They reduce the price by about 10% every thirty days, as far as I can tell. They don't last that long here, and most of them in my area go for full price or over. Check the website, and they are generally updated every Friday. Preforeclosure is just that - Pre, meaning it hasn't gone to sheriff sale yet. You would have to check the courthouse records for lis pendens filings and try to get the owner to sell to you directly. However, many of these owe more than the home is worth, whereas the REO and HUD listings are selling at appraised value, rather than the mortgage amount. Find an agent in your area that deals in foreclosures.

thanks i appreciate it!