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HUD buys loans from private mortgage companies when the loan is in trouble through a procedure called assignment. Occasionally, HUD will foreclose on one of its assigned loans. Otherwise, HUD pays off a private lender to obtain title. HUD gets title after the foreclosure. Buying a HUD home that is listed for sale in the newspaper is nothing more than buying a home HUD owns and wants to resell. Search for HUD government properties at Search HUD distressed properties @ www.hudforclosures.com
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