Government Foreclosures and HUD Foreclosure Listings in Virginia Cities
Virginia HUD Homes and Government Foreclosures by City
Below are HUDForeclosed.com's government and HUD foreclosure listings in Virginia cities. These are properties in which a government agency has insured a loan to a borrower, who has since defaulted. At this point, the insuring agency acquires ownership of the defaulted property. HUDforeclosed.com then aggregates this data from these government agencies and presents it here en masse for our customers.
A good portion of this data is acquired from HUD (shorthand nickname for U.S. Government's Department of Housing and Urban Development) - we call these types of listings 'HUD Foreclosures'
Also included are VA foreclosures (Veteran's Affairs), Fannie Mae Foreclosures (Federal National Mortgage Association), and Freddie Mac Foreclosures (Federal Home Loan Mortgage Corporation) all of which are government agencies that insured a homeowner who has defaulted.
Since these agencies are not realtors, having an inventory of foreclosed properties on their books can prove costly - and they are very motivated to sell off these propeties at a significantly lower price than market value.