According to USHUD.COM CEO Special Incentives Created to Reduce HUD Inventory for 4th Quarter

ANNAPOLIS, Md., Oct. 26 /PRNewswire/ -- Historically, the federal government over the last four years has found itself in a similar position, too many foreclosures in their inventory. With each house held in foreclosure inventory the tax payers are left holding the tab for over $20 million a month. This has led Housing and Urban Development (HUD) to create and offer special incentives for homebuyers such as such as lowering prices, an allowance to upgrade the property, a moving expense allowance or a bonus for closing the sale early. The buyer can request HUD to pay all or a portion of the financing and closing costs.

According to Michael Urbanski, CEO of USHUD.COM (http://www.ushud.com/), subsidiary of Heavy Hammer, "Each area of the country has its own management company with latitude regarding these incentives. Buying Incentive Programs are created in each individual state. For example, the New York State Legislature recently approved a bill that extends a first-time homebuyers incentive program that was set to expire at the end of this year. The incentive program was created to help potential homeowners buy low to moderately priced housing in the state of New York. The bill (S.3020/A.5766) extends the option for local governments to grant a partial property tax exemption for up to five years to first-time homebuyers who purchase newly constructed homes before December 31, 2010.

According to Urbanski, the government is being forced to reduce inventory in the fourth quarter as the year comes to a close, therefore home buyers should see a slash in prices.

Michael Urbanski has over 15 years of real estate experience. Mr. Urbanski resides in Annapolis, MD.

Based in Annapolis, MD, USHUD.COM is the single largest FREE online resource for foreclosed properties. Together with the most comprehensive, accurate free listings of foreclosure properties, the home buyer is provided with a foreclosure specialist in their local geographic area of interest. Over 25,000 foreclosure properties are updated three times a day from over 135 databases nationwide to provide visitors with the most up-to-date free foreclosure real estate information. With over 1.5 million unique visitors each month, all real estate professionals from real estate agents, loan officers and title companies can all benefit from the exposure that USHUD.COM provides. USHUD.COM has also become the leading resource for support and training for Real Estate Professionals interested in specializing in marketing foreclosure property. USHUD.COM, founded in 1999, is a registered trademark of Heavy Hammer. On the Net: http://www.ushud.com/

  Lisa Seborowski, Director of Public Relations
  Heavy Hammer
  lisas@heavyhammer.com
  Cell 410.279.1596 Office: 1.800.880.8584