Police Officers, Firefighters, Teachers can get up to 50% off a HUD home!

The Good Neighbor Next Door Program

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.  You will have to check with your real estate agent

How to Participate in Good Neighbor Next Door

Check the listings for your state  you can go to http://www.bidselect.com/.  On Bidselect put in the state you are looking in, scroll to the bottom of the seach page and look for the Government Foreclosure Programs tab.  Then click on Good Neighbor Next Door.  This will populate all the homes available for this program in your State.  You will be surprised to see homes listed at $1.00    Yep, that is RIGHT!!  Only $1.00   Your agent must submitt a Bid for you anyway and remember there could be other buyers bidding so you are not guaranteed to win the $1.00 Bid, however HUD is basically stating the if you BID $1.00 and not one else bids.. hey the home will be yours!  Not a Bad deal!   Now if more than one person submits a BID on a single home, a selection will be made by random lottery (typically if the Bid amounts are the same.. if one bid is higher.. the highest & best will win). 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 has specific forms that you must sign verifying your status and you must plan on living in this home for at least 36 months, which is only 3 years... not bad!

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.