and also gives you a link to homes that are eligible.
Other major condition I see is 36 Month requirement
About Good Neighbor Next Door
Information by State
Esta pÃ¡gina en espaÃ±ol
Good Neighbor main page
Good Neighbor Mortgages
Property Listings by State
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.
If you have any other questions, or I can assist you with financing, please feel free to give me a call at (801) 838-9820, or email at email@example.com. I am a mortgage consultant with Silver Ridge Mortgage in Salt Lake City.