Thank you Mike Young (203k Consultant in Fairfield, California) who commented on my earlier post reminding me of this awesome program!! Consumers - if you are actively employed in any of these professions - this program is great for you.
This page is located on the U.S. Department of Housing and Urban Development's Homes and Communities website at http://www.hud.gov/offices/hsg/sfh/reo/goodn/gnndabot.cfm.
Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence.
How the Program Works
Eligible Single Family homes located in revitalization areas are listed exclusively for sales through the Good Neighbor Next Door Sales program. Properties are available for purchase through the program for five days.
How to Participate in Good Neighbor Next Door
Check the listings for your state. Follow the instructions to submit your interest in purchasing a specific home. If more than one person submits on a single home a selection will be made by random lottery. You must meet the requirements for a law enforcement officer, teacher, firefighter or emergency medical technician and comply with HUD's regulations for the program.
HUD requires that you sign a second mortgage and note for the discount amount. No interest or payments are required on this "silent second" provided that you fulfill the three-year occupancy requirement.
The number of properties available is limited and the list of available properties changes weekly.
To learn more, please see our Good Neighbor Sales Frequently Asked Questions!
|U.S. Department of Housing and Urban Development
451 7th Street, S.W., Washington, DC 20410
Telephone: (202) 708-1112 Find the address of a HUD office near you
If you are interested in locating a home that meets with the guidelines of this program, please contact me. My team would be more than happy to assist you in taking advantage of this amazing program.
If you are considering moving to an area OUTSIDE the Boulder, Larimer or Weld Counties, please contact my team and we will assist you in finding a agent familiar with this program in your specific area.