Where you can purchase HUD-backed, cash-only foreclosure properties through online auctions.
The program is intended to reduce HUD’s inventory by allowing buyers to purchase properties through traditional public foreclosure sales and online auction events. As part of the CWCOT program, HUD requires all such properties to be marketed online to increase the number of potential buyers who may see them. While they can be a great deal, they are sold in “as-is” condition, as occupied, and without warranties.
| Pro tip: CWCOT properties are sometimes called second chance foreclosure properties. |