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!
|