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If a house is listed as a "HUD home", does it mean that the adjacent houses are also likely to be "HUD"?
HUD homes will occasionally be found sprinkled among the nicer sections of a town.
But most are concentrated where speculative abuse of one sort or another took place.
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Pardon my ignorance, but isn't it how "projects" come about: a bunch of HUD homes in one area?
Nope. Projects (housing projects) are another critter altogether.
A " project " is not a single family home of even an area of single family homes where many have HUD financing.
A " project" is apartment type housing of various sorts, such as row houses, garden/ low rise or high rise apartments, etc. HUD offers grants to builders or developers of these. After they are constructed, then HUD helps the apartment owners offer reduced rents to low income tenants.
None of this has anything to do with single family homes. Come out to such places as toney Fairfield county, Connecticut where the HUD mortgage limit is $ 708,750 for a single family home and $907,350 for a two family. Hardly slum pricing.
HUD is a huge gov't agency that has hundreds of real estate type programs. When you see a HUD home for sale that simply means that the original owners had obtained financing under HUD's FHA financing program.
HUD does have various programs that encourage development of 'projects', but those programs aren't related to the single family lending program of FHA.
If a house is listed as a "HUD home", does it mean that the adjacent houses are also likely to be "HUD"?
You might be thinking of Section 8 Housing. HUD Homes are not, by definition, located in lower income areas.
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