What is a HUD home?

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A HUD home is owned by the United States Department of Housing and Urban Development (HUD). HUD acquires these properties when a borrower with an FHA mortgage is no longer able to maintain payments on their loan. FHA mortgages are guaranteed by the Federal Housing Administration. The Federal Housing Administration (FHA) provides mortgage insurance on loans made by FHA-approved lenders …

Accessory Dwelling Units: Are they right for you?

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Accessory Dwelling Units (ADUs) are another name for mother-in-law suites, guest cottages, carriage houses, and garage or basement apartments. They allow for assisted living or elderly care, or an income source for property owners. If done right, ADUs can be financially beneficial for property owners and cover part of the home’s mortgage. To make sure that installing an ADU is …