Everyone always asks about the Officer next door program. Does it exist? yes. Is it easy to get one of these homes? Not really. It is very competitive because there are relatively few homes available and there are lots of people that want to buy them. Several years ago, HUD expanded the program to not only police officers, but also Firefighters, teachers, and EMT’s. So you are competing with lots of people to get the homes, and the homes usually are not in very good areas. But, nevertheless, sometimes they come available and if you want to try and get one we are more than willing to help. First, read about the program here, direct from the HUD website.
Law enforcement officers, pre-Kindergarten through 12th grade teachers, firefighters and 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 sale through the Good Neighbor Next Door Sales program. Properties are available for purchase through the program for seven 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 an offer 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.”
Here is the website to see what homes are available in your area
Post Your Comment Here