Uncle Samuel has a HUD half price houses program for law enforcement,
12th grade teachers, and other public workers who want to contribute to community revitalization, while becoming homeowners through HUD’s Good Neighbor Next Door Sales Program.
It offers HUD-owned, single family homes at 50 percent discount.
HUD’s goal is to prevent crime and promote neighborhood safety by encouraging public service employees to become homeowners, and residents in economically distressed communities.
Under the HUD half price houses program, it offers homes located in designated revitalization areas, typically in low and moderate-income neighborhoods.
There are over 700 revitalization areas across the country.
Homes offered for sale in the program were previously insured through the Federal Housing Administration (FHA) and then foreclosed.
HUD also reduces the down payment requirement to just $100.00 if the home is purchased with an FHA insured mortgage.
Public service employees must live in the property as their sole residence for at least three years after purchase.
After the three years, they can sell the HUD half price houses program property for whatever the value is and keep any profits.
Contact your city or county government for revitalization area zip codes.
For more information go here.
Under another HUD program, the Dollar Homes Initiative, public service employees may have an opportunity to purchase a HUD home outside revitalization areas.
Tonza Borden is a 20-year finance and digital marketing expert with a passion for coaching and training. Visit her website at RuralMoney.com for exclusive rural resources and strategies for your financial future. Google+