HUD's Good Neighbor Next Door Program

By
Real Estate Broker/Owner with DDR Realty

Individuals who are employed as teachers for grades Pre-K through 12, law enforcement officers, firefighters and EMTs are offered incentives by HUD to purchase homes in a designated revitalization area.

The incentive is 50% from the list price of the home, however HUD does require that you sign a second mortgage and note for the discounted amount. HUD calls this the "Good Neighbor Next Door" program.

To qualify you must commit to living in the home for at least 36 month as your sole residence and meet the other requirements. For more information visit HUD's Good Neighbor Next Door Q&A Page.

HUD's GNND Q&A Page: http://www.hud.gov/offices/hsg/sfh/reo/goodn/gnndfaq.cfm

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
New York Orange County
Tags:
hud
incentives
good neighbor next door
gnnd
revitalization area

Spam prevention
Show All Comments
Ambassador
3,716,308
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital
Gee, too bad they didn't include real estate agents on the list!  All kidding aside, here in Washington, DC, it is virtually impossible for so many of the people who play a crucial part in making the city liveable to buy a house here - or an itty, bitty condo for that matter!
Aug 15, 2007 04:12 AM #1
Rainer
273,827
Ava Anderson
A-Z Atlanta Realty - Snellville, GA
Selling Atlanta from A-Z!
This seems like awesome program.  When I tried to use it in my area the choices were limited. 
Aug 15, 2007 04:39 AM #2
Rainmaker
220,148
William Collins
ERA Queen City Realty - Scotch Plains, NJ
Property and Asset Management

Derrick,

This is a great great program. It gets a foreclosed property occupied, as well as places role models in the community Not to mention the hefty equity position realized by the buyer.

Aug 15, 2007 06:24 AM #3
Ambassador
1,654,850
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection
Derrick - I agree this is a wonderful program.  A great incentive to get young teachers to be part of the community.
Aug 15, 2007 04:56 PM #4
Rainer
104,204
Rosario Lewis
DDR Realty - Newburgh, NY
GRI, SRES - DDR Realty - Orange County, NY
This sounds like a great opportunity for both home buyers and communities. It is a win win situation.
Aug 17, 2007 03:58 AM #5
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
120,370

DDR Realty

Orange County NY
Ask me a question
*
*
*
*

Additional Information