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What does "Lottery" mean on a HUD Listing? Good Neighbor Next Door Program for Firefighters, EMT's, Police & Teachers. Are YOU eligible for a Half Priced House?
Have you ever looked at listings on the HUD Website and seen Lottery as the listing type? These properties have been chosen for the "Good Neighbor Next Door Program"where Law Enforcement, pre-K thru 12th grade teachers, firefighters and EMT's can purchase the house for HALF OFF the list price.Are you eligible? If so, you will have just 5 days to submit your interest in purchasing the home. After the 5 days is up, the half price option is gone.In return for paying half price for this home, the purchaser is required to live in the home as their sole residence for 36 months and sign a "silent second" mortgage and note for the discounted amount (the other half). As long as you comply with the required 3 year occupancy, HUD will release the second mortgage when the time is up. Providing false information is a felony and HUD will prosecute.
 

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