HUD's Good Neighbor Next Door Program
In this edition of Tuesday Morning Coffee John presents the details of H.U.D.'s Good Neighbor Next Door Program that allows Firefighters, EMTs, Police and Teachers to purchase certain HUD homes at 50% of the list price.
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JOHN: Hey, John Jones here with another edition of Tuesday Morning Coffee. A follow-up from last week when we were talking about HUD homes. There’s a new program out called The Good Neighbor Next Door Program. This program is designed for certain individuals, service individuals—school teachers, firefighters, police officers, and EMTs. And what this program is, every so often, HUD will take a home and give it a special designation as a Good Neighbor Next Door home. It allows people in those industries I just mentioned to purchase this home for 50% of its value.
Also, they can purchase it with only $100 down. Now there’s a few requirements. The property must be located in a designated revitalization area; the buyer must live in the home for at least three years, 36 months; the buyer nor spouse may have owned title to the property in the last 12 months. We’ll keep you updated whenever we have one of these properties that are offered through HUD. Currently, we have none, but we have a feeling that we will be listing some of those properties in the near future.
So I hope that helps you if you’re an EMT, school teacher, firefighter. Give us a call if you need more information. We’d love to discuss it with you, 867-3020. Thanks.