ive heard you can invest in HUD homes, but i really wasnt too sure what they were exactly. I thought it was some kind of govenment owned foreclosure, but im not sure.

HUD properties are sold when a FHA morgage is foreclosed on. HUD is Housing and Urban Development. Hud pays for the original amount of the loan and then resells the property. These are usually lower income types of properties. They are first offered to buyers that intend to occuy the property, they are then offered to all other buyers after 10 days. There are some different types of bidding requirements on HUD homes, contact a hud registered broker, to help yu out with these types of purchases.