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Chuck Marunde, J.D., Broker/Owner 360-775-5424


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      Home Foreclosures

      Sequim Real Estate Broker a Registered HUD Homes Buyer’s Representative

      Chuck Marunde by Chuck Marunde
      October 1, 2011
      Reading Time: 2 mins read
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      HUD homes are foreclosures that are now owned by HUD (Housing and Urban Development) and listed for sale by HUD.  Chuck Marunde, Managing Broker of Adamas Realty in Sequim is now Registered with HUD to represent buyers of HUD homes. This gives buyers the ability to make offers online through a Registered HUD Homes broker.

      HUD Homes

      HUD Homes and Foreclosures

      The foreclosure market can be divided into to main categories.  There are HUD Homes, which were homes with FHA loans that were foreclosed by the banks who made those loans.  Those banks get reimbursed by HUD for their losses and transfer ownership of the homes to HUD.  HUD insured these loans and the banks collected a mortgage insurance premium from the borrowers to pay for that insurance.  These become HUD Homes now listed for sale.

      The other type of foreclosures are those that were made with conventional loans (and all non-HUD insured loans).  The banks that made these loans foreclosed and now are selling the homes.  It gets a little more complicated than that, because many of these loans were packaged and sold and resold, so the owners now may be far removed from the originating bank.  These foreclosures are not in the HUD Homes database, but are listed for sale in the MLS.

      HUD Homes and a Registered Broker

      If you would like to make an offer on a HUD Home or a Foreclosed Home now in the MLS, contact Chuck Marunde at 360-775-5425.

      Last Updated on October 1, 2011 by Chuck Marunde

      Tags: HUD ForeclosuresHUD Homes
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      Chuck Marunde

      Chuck Marunde

      Chuck grew up in remote Alaska, graduated from the University of Alaska with a degree in Economics and Teacher Certification, and after teaching high school for two years, went to law school at Gonzaga University in Spokane, Washington. He served four years as a Captain and JAG in the USAF at Nellis AFB in Las Vegas. After practicing real estate law for 20 years in Washington, Chuck founded iRealty Virtual Brokers covering Sequim and the beautiful Olympic Peninsula. He is the author of 2,200 real estate articles and a dozen real estate books, and he produced over 100 real estate videos. Chuck combined his love for real estate and technology to create a massive Internet presence, and his articles and videos and books have been viewed by millions. Chuck is a well recognized real estate expert and his counsel is sought by other brokers and practicing attorneys around the country. Buyers from New York to Hawaii and from Florida to Alaska seek him out to retain him as their buyer's agent, and home owners around the State of Washington seek him out because of his new Flat Fee Listing Service. 

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      Comments 1

      1. Sandia Court says:
        11 years ago

        Absolutely love Sequim, Washington. I talk to people all the time about Sequim, and I’m surprised at how many people know about Sequim. I’ve met several retired folks moving their soon. Love your Sequim Real Estate Blog. I tell people about it, too.

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      • Home
      • Search MLS
        • Sequim MLS
        • Sequim MLS Map Search
        • Port Angeles MLS
        • Port Townsend MLS
        • San Juan Islands MLS
        • All Islands MLS
        • How to Search the Sequim MLS
      • Videos
        • Sequim Videos Q&A
        • Buyer Videos Part 1
        • Buyer Videos Part 2
        • Buyer Videos Part 3
        • Buyer Videos Part 4
        • Living in Sequim Video Channel
      • Books
        • Sequim Real Estate for Buyers (Free eBook Updates Forever)
        • Sequim Real Estate: A Buyer’s Guide (Paperback)
        • Escaping California to The San Juan Islands
        • Buying & Selling Real Estate in The Rain Shadow
        • Real Estate From Bricks & Mortar to High Tech Virtuality
        • The Seven Myths of Selling Your Home
        • Buying Your Retirement Home
        • The New World of Marketing for Real Estate Agents
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