HUD Articles

A primary goal of HUD in selling HUD homes is to provide housing ownership opportunities to those who plan on being owner occupants. An owner occupant is defined as someone who intends to occupy the property as their primary residence for at least 12 months and has not purchased a HUD home, as an owner occupant in the past two years. To accomplish this goal, HUD has established priority periods for owner occupants to views and bid on certain single-family properties (single family houses and multi-unit properties where HUD has classified them as FHA Insured and Insured with escrow) and prohibits investors from bidding. This bid period restricted to owner occupants 30 days from the initial list date for new listings that are listed as FHA insured or insured with escrow. If a property is labeled as uninsured, meaning not eligible for FHA 203 b financing, then the owner occupancy priority is reduced to 5 days.