In NC you can use the Good Neighbor FHA Program to purchase a FHA Foreclosed home at 50% of the list price! Sound too good to be true? Well, there are (as of today) 9 homes that qualify for this program in NC - and more come on the market all of the time!
Where are the Homes located?
Homes that qualify for the Good Neighbor Next Door Program in NC are primarily located in “targeted” areas that need revitalization – so the program is not usually available for all HUD homes in your County.
It’s offered for the homes that are often in the “less desirable” neighborhoods. Sometimes, however, the home might be in a great location – it just needs a ton of “help” to put it in a livable condition, and because of that, it might be offered by HUD under this 50% off program. Ultimately – HUD wants the homes to be lived in. Here’s a link to the homes in NC that qualify for Good Neighbor Next Door (as of 4/22/13 there are 9 in NC)
HUD determines the revitalization areas in each NC city.
Here are the Revitalization Area criteria from HUD.
What are some of the other requirements?
You must be a Teacher (pre-K-12), Firefighter, EMT, or Law Enforcement Officer.
- *Teacher
A person will qualify as a teacher for the purpose of the Good Neighbor Next Door program in NC if the person is employed as a full time teacher by a state accredited public or private school that provides services to students in grades pre-K through 12; and, if the public or private school where the person is employed serves students from the area where the home is located in the normal course of business.
We have not been able to make this program work when a Teacher wants to live in Person County (for instance) and works for the Durham County School System…
- *Firefighter/Emergency Medical Technician
A person qualifies as a Firefighter/EMT for the purposes of the Good Neighbor Next Door program in NC if the person is employed full time as a firefighter or emergency medical technician by a fire department or emergency medical services responder unit of the federal government, a State, unit of general local government, or an Indian tribal government serving the area where the home is located.
Same thing applies… You can work for the Holly Springs Fire Department, but living in Harnett County (not served by the Holly Springs Fire District) would not work for this program.
- *Law Enforcement Officer
A person will qualify as a Law Enforcement Officer for the purpose of the Good Neighbor Next Door program in NC if they are employed full-time by a law enforcement agency of the federal government, a state, a unit of local government or an Indian tribal government; and, if in carrying out such full time employment, the person is sworn to uphold, and make arrests for violations of, federal, State, tribal, county, township or municipal laws.
So – if you work for the NC Highway Patrol, and you can live within NC and qualify for the program. If you are a Federal Marshal, and you are authorized to make arrests anywhere in NC; any of the noted as available for the Good Neighbor Next Door Program through the HUD Home Store would be available to you.
More information on The Good Neighbor Next Door FHA Program In NC?
Interested in purchasing a distressed FHA Foreclosed home? We can help! Call Steve and Eleanor Thorne 919 649 5058. We know all of the FHA Requirements, and we off the NC First Time Homebuyer Programs that can help you buy the home of your dreams!
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