Summary

Description

The U.S. Department of Housing and Urban Development's Real Estate Owned (REO) properties are a result of the Federal Housing Administration (FHA) paying a claim to a lending institution on a foreclosed property which was financed with an FHA Insured Mortgage and the lender transferring ownership of the property to HUD. Typically, title to the property is not transferred (or the claim paid) until the previous owner is evicted from the property. Normally, after the home is transferred to HUD, the property will go up for auction on the HUD Home store website. This layer contains single-family residential properties that are up for sale.