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If you have any questions about your options, contact your local PHA. It can be confusing to determine which benefits program is best for you. If you want to rent a house, you cannot do so by purchasing a HUD home. However, this benefit is available through the Section 8 program. HUD does provide some financial relief to low-income families who want to rent a home, but cannot afford the monthly payments on the property.
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If you are not interested in purchasing a property, you may wonder if there are any HUD houses for rent. However, if two or more people place a bid on the same home, a lottery system is used to determine who will become its owner. If you are the only individual who wants to purchase a property and you have the means to do so, you will likely obtain that home. The goal of this program is to bring new life to current neighborhoods that may have various vacant properties. In exchange for this discount, you must use the house as your primary place of residence for a minimum of 36 months. This can give you even more discounts if you are looking to obtain your own property. If you have one of these professions, you may qualify to purchase a HUD home for half of its listing price.
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