What does the H.U.D. stand for? And what does it do?

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Anthony C

What does the H.U.D. stand for? And what does it do?

Digger

US Department of Housing and Urban Development

http://www.hud.gov/

Serendipity

The U.S. Department of Housing and Urban Development.

The following are the agencies included:
Community Planning and Development
Government National Mortgage Association (Ginnie Mae)
Multifamily Housing
Office of Fair Housing and Equal Opportunity
Office of Federal Housing Enterprise Oversight
Office of Healthy Homes and Lead Hazard Control
Office of Housing
Office of Public and Indian Housing
Policy Development and Research

s

shamus_jack

it stands for housing and urban developement.

it does two main things. it provides mortgauge insurance for the bank, if you default, they buy the mortaguge, and reposes the home(hud morts. only)this insurance usually will get you a lower rate, making it more affordable

they provide renters a type of renter's assistance for those who cannot afford rent, in a house that is hud inspected.(in my experiance, these renters usually take a beautiful house, and turn it into a condemned building within 6 months.maybe it's just the area, but who knows...)

all in all, it is just another government sponcered money sucker for the taxpayers. they do however sell thier reposesed homes, sometime below market value. good deals can be made there...