I came across an article from the New York Times recently that was about a little known program where you can get a half price HUD homes if you quality. Now you have to admit; getting any house half price is a great deal. It’s an especially good deal if this house is your personal residence. This program is sponsored by the Department of Housing and Urban Development. It’s called the Good Neighbor Next Door Program. The essence of this program is that it deeply discounts foreclosure properties in specific areas that have been designated areas in need of revitalization.
So what’s the Catch?
There’s not really a catch, but buyers have to qualify for the program. These half priced HUD homes are only offered to certain emergency responders and full time educators who work in those areas. They must also agree to certain other terms. Read the rest of this entry →