50,000

HUD Housing Uncle SamNumber of homes that several branches of the federal government own and are trying to sell, according to this May 14 article in USA Today.

Individual homeowners and banks aren't the only property owners sitting on unsold single-family and multiunit homes. Several branches of the U.S. government are looking to sell the tens of thousands of homes they've acquired through defaults, seizures, and other circumstances.

The federal agencies include the Army Corps of Engineers, Department of Agriculture, Department of Housing and Urban Development, Department of the Treasury, Department of Veterans Affairs, Federal Deposit Insurance Corporation, Federal Deposit Insurance Corporation, General Services Administration, Internal Revenue Service, Marshals Service, and Small Business Administration.

The Department of Housing and Urban Development alone has spent more than $12 billion to pay back lenders after homeowners defaulted on government-backed Federal Housing Administration loans but so far has recovered less than half that amount, said the USA Today story. HUD has about 38,000 homes for sale.

Essential information: Learn how to buy a HUD home or a foreclosed property. If you're having financial trouble and are concerned making your mortgage payments, read "White House Launches Mortgage-Assistance Web Site" for details on the federal government's Making Home Affordable program. Learn how to avoid becoming a victim of a home-related financial scam and find out what a "foreclosure vulture" is.

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