For Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians, 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.
When a law enforcement officer, teacher, firefighter, or emergency medical technician chooses to use an FHA- insured mortgage, the down payment is $100.
Eligible Single Family homes located in revitalization areas are listed exclusively for sales through the Good Neighbor Next Door Sales program. GNND buyers can bid in lottery, exclusive, and extended phases, but can bid exclusively on insured single unit homes in revitalization areas in the lottery phase. GNND buyers are given preference over government agencies and nonprofits in the selection of a bid-winner in the lottery phase.
Search for available properties at www.hudhomestore.com. Enter State and Buyer Type: Good Neighbor Next Door.
Good Neighbor Next Door program Q&A here.
Here are the available HUD properties in SD County: HUD foreclosures in SD County
Come on. Stop the gimmicks.
What’s with the prejudice against everyone not in a government union?
I agree; people who have to live with the uncertainty of the private sector are the ones who need help the most.
It’s just one more can-kicker after another.
I’m mad at myself for not getting a government job 25 years ago. I could’ve been retired now collecting a full pension and double dipping somewhere else!
What’s going in government is totally unsustainable. A big economic crash is on the horizon. It’s going to be very swift/harsh when it hits. I have a gut feeling the RE market has not hit bottom yet. I’m keeping my powder dry.
The catch is you have to buy in a HUD-designated revitalization area. In San Diego, there are two neighborhoods in the National City area. Go to this site and click “single family home locater.”
http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/reo/abtrevt
You’re right, I was already incensed by the time I read that far.
Another big tease by the government – I wonder how much money they spend promoting these programs that might have 1-2 properties eligble per county?
Ironic isn’t it. Teachers and cops and fire/paramedic have good jobs with great benefits and pay (don’t believe all that b.s. about low pay for teachers, pull up the salary schedule for your district) and retirement. How about the rest of us – why are we less deserving?
Because the “heroes” of society deserve more, donchaknow. I was amused when a soccer mom down the street was shocked when the fire department chief told her the departmnet would not be there if a truely bad disaster happened. Told her she would be on her own for at least a week or more. She couldn’t believe it.
Are these heros really heros if they are fleecing the public? Actually, I don’t blame the heros as much as the politicians that create these programs to further enrich their campaigns from these unions.