New Jersey Home Mortgages Information

New Jersey Consumer Information

U.S. Department of Housing and Urban Development

The mission of the Department of Banking and Insurance is to regulate the banking, insurance and real estate industries in a professional and timely manner that protects and educates consumers and promotes the growth, financial stability and efficiency of those industries.

The Department's main offices are located in the Mary Roebling building at 20 West State Street (corner of West State Street and North Warren Street), in Trenton.The Department also maintains consumer centers in Camden and Newark .

The Department's Automated Hot line: 1-800-446-7467
Vist the NJ Department of Banking and Insurance

What is a HUD Home?
A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.

Who can buy a HUD Home?
Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors

Check out the listings of HUD homes in your area. If you think you want to buy a HUD home, you need to contact a real estate sales professional in your area who is authorized to sell HUD homes (most are).