Want to Buy a Home at 50% of Market Value?

Seriously- this can happen! Here’s the deal: HUD has a revitalization program known as “Good Neighbor Next Door” or “GNND” for short which is meant to promote positive changes in select communities throughout the United States.  In a nut shell, individuals who are law enforcement officers, teachers, fire fighters, or emergency medical technicians are eligible to receive a full 50% off of the sale price of a HUD owned home that is located within a revitalization area if that individual also works in that same revitalization area.

I’m sure you want to know, What’s the catch? Well, there are a few guidelines the applicant must agree to.  Here they are:

  1. Applicant must be employed as a full-time law enforcement officer, teacher, fire fighter, or emergency medical technician
  2. Applicant must plan to maintain said employment for at least one year following the purchase date
  3. Applicant (or spouse) may be a previous home owner, BUT cannot have held title to a home within 12 months prior to the bid date
  4. Applicant must agree to live in the property as a primary residence for at least 36 months after date of purchase
  5. Home must be located within a “Revitalization Area”
That’s it! Don’t believe me? Check it out for yourself at hud.gov. Happy House Hunting Good Neighbors!
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