Yes it is true! HUD wants to make it clear that they appreciate the sacrifices and commitment to keeping communities strong throughout North Carolina. Law enforcement officers, teachers- pre-kindergarten through 12th grade, firefighters & emergency medical technicians can become homeowners through the Good Neighbor Next Door Sales Program sponsored by HUD while contributing to community revitalization. A nice break for our police officers! If you think about it this opportunity is better than buying a foreclosure! HUD offers a discount of 50% from the list price of the home. How it works You can get a 50% discount off the HUD appraised value. For example, if HUD lists a home at $200,000, you can buy it for $100,000 provided, you occupy the home as your personal residence for 36 months. If you qualify for any FHA-insured mortgage program, your down payment is only $100 and you can finance closing costs. You have to use a real estate broker or agent to buy the home The purpose of the program is to strengthen communities by encouraging employed, professional law enforcement officers, teachers and firefighters & emergency medical technicians to live in the community. You will have 30, 90 or 180 days to move into the home you purchase, depending on HUD's determination of the condition of the home and the level of repairs that may be required, if any. A great benefit for our brave fire fighters You must live in the home as your sole residence for a full 36 months Beware: HUD views the occupancy obligation seriously and vigorously pursues violators to the fullest extent of the law. The 30th, 90th or 180th day is the start date for the occupancy period. You are released from all obligations under this program at the end of the 36th month following the start date. The homes are located in revitalization areas as defined by HUD Search here for designated areas Locate an address using HUD's map You can use FHA, VA, or conventional mortgages, or even cash HUD requires you to sign a Second Mortgage and Note on the discounted amount (which is $50,000 in the example above). No interest or payments are required on this "silent second" mortgage if you live in the home for the entire 36 month occupancy period. You may be required to pay a pro-rata portion of the discount to HUD should you fail to fulfill the three year occupancy requirement. After living in the home for three years you may sell it and keep the profit!
You know who can help you find one of these HUD homes? Leesa Finley can! Click her photo to contact
North County
*1902 Wright St 2nd floor Carlsbad CA 92008
New Office!
2990 Jamacha Road #136 El Cajon CA 92019
Nevin Williams NMLS #69651
*Not a licensed office location
This is a remarkable program Nevin and truely extends gratitude to those in Public Service! There are some amazing HUD homes available at already great prices! Thanks for the mention - I look forward to helping quite a few buyers with this program!
Nevin, this is a wonderful program to help give our public servants an opportunity that they might not have had otherwise.
Great job getting the word out on this.
Craig - thanks Craig!
Hey leesa - It is a remarkable program and I am surprised more people don't take advantage of it
Awesome program!! Please don't think I am hitting on you but can I have a ride in your Police car?
Renee - Sure you can have a ride! However for some reason I am always a passenger and in the backseat. What's up with that?