HUD’s Online App to Help Potential Home Buyers

One of the most important things that home buyers looking to buy cheap homes have to consider while making their purchases is the location where they wish to move to. Till now, people used to just choose their preferred locations for buying HUD homes on a vague reputation amongst their social circles. However, all this is set to change as potential home buyers can now choose the location where they want to purchase HUD homes. This can be done by analyzing various locations through an online app released by the Housing and Urban Development Department.

The new online app is designed to contain and display a lot of information for almost all locations in the country with regard to various aspects ranging in the hundreds. In other words, the app that has been termed CPD Maps will allow different segments of the population such as government professionals, real estate investors and even individual buyers to access neighborhood statistics as well as census information.

This will allow potential investors and buyers of HUD homes to analyze locations where they may be considering buying cheap homes. The CPD Maps will also allow people to see where all the federal grants are being spent and what it takes to get grants sanctioned for neighborhood projects from the federal government.

Government Needs to Help Buyers of HUD Homes More: Housing Chief

The Secretary of Housing and Urban Development has recognized the plight of buyers of HUD homes by recently stating that they need to be given more support by the government. The statement came from Shaun Donovan in a round table discussion with people from Consolidated Credit Counseling Services and Alcee Hastings from D – Miramar that was held in Fort Lauderdale.

Shaun Donovan also stated that the United States government can provide this greater help by simply passing the “To – Do List” put forth by the President of the country, Barack Obama. The list from Obama focuses on a series of wide ranging reforms designed to help the mortgage refinancing industry of the country. According to officials, the reforms have the potential to help many homeowners in the country recapture equity in their homes.

While the sale of cheap homes in the country is rising along with the offloading of HUD homes, certain quarters of the industry watchers state that this improvement can be low-key in nature as the number of foreclosures are still expected to be high. The problem with existing instruments, as per many HUD homes buyers and cheap homes sellers, is that lenders are uncooperative and government backed programs are too restrictive.