Hi Donna, What are the HUD Special Programs?

By
Real Estate Agent with Cherry Creek Properties, LLC

Hi Donna, What are the HUD Special Programs?HUD Homes

When a potential buyer opens the website to search for HUD homes (www.HUDHomeStore.com), one of the options to search is HUD Special Programs.  What are the programs that HUD currently offers?  There are 3 programs currently offered by HUD:

  • Good Neighbor Next Door (GNND)
  • Dollar Homes
  • Non Profit

Each program is unique and benefits a different sector of the buying public.

Here are the highlights regarding the Good Neighbor Next Door program:

  • Available to law enforcement officers, pre-K through 12th grade teachers, firefighters and Emergency Medical Technicians (EMTs)
  • A 50% discount (incentive) off the list price of eligible homes
  • The purchaser must commit to living in the property for a minium of 36 months, as their sole residence
  • Eligible single family homes must be located in the designated revitalization areas (as determined by HUD)
  • Eligible purchasers may use FHA, VA or conventional financing, or pay cash
  • Only single unit homes, townhomes and condiminiums are eligible
  • The purchaser CANNOT negotiate the price

For more information about the Good Neighbor Next Door program, please click on this link.

The Dollar Homes program offers housing to low to moderate income families.  For more information regarding this program, please click on this link.  The Non Profit program allows local non profit organizations an opportunity to investment in the rehabilitation of their communities.  For more information regarding this program, please click on this link.

(HUD is the U.S. Department of Housing and Urban Development.)

 

If you are interested in learning more about HUD Homes or scheduling a showing of a HUD Home in the Metro Denver area, please contact The Foerster Team at (720) 530-5553.

Watch this blog site for available HUD Homes in Douglas County and the surrounding areas and additional information regarding HUD Home programs and purchasing HUD Homes.

 

Additional information about HUD Homes can be found by visiting the following links:

 

What is a HUD home?

How do I search for HUD homes?

What are the benefits of registering on the HUDhomestore website?

How much information will I find on the HUDhomestore website?

Who Can Purchase a HUD Home?

What is Repair Escrow?

What is the Meaning of 203K Eligible? 

 

(Clipart courtesy of Microsoft Office.)

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Donna Foerster

The Foerster Team

Cherry Creek Properties, LLC

www.TheFoersterTeam.com

720-530-5554 (cell)

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Show All Comments
Rainmaker
1,375,975
Rebecca Gaujot, Realtor®
Coldwell Banker Stuart & Watts Real Estate - Lewisburg, WV
Lewisburg WV Real Estate, Greenbrier County

Thanks for the information on HUD special programs, a good reference to keep.

February 27, 2011 01:20 AM #1
Rainmaker
498,227
Dan Edward Phillips
Dan Edward Phillips, Humboldt and Del Norte Counties, CA - Eureka, CA
Humboldt and Del Norte Counties, CA

Hi Donna, excellent input on HUD special programs, thanks for sharing it!

February 27, 2011 01:36 AM #2
Ambassador
324,264
Melissa McKinney
McKinney Realty Group - Fayetteville, NC
Realtor, www.LivingFayetteville.com

Donna~ Great information! Anyone in Parker CO would be silly not to give you a call!!

February 27, 2011 01:40 AM #3
Rainmaker
359,573
Kerry Klun
Tropical Realty of Suntree - Indialantic, FL
321-626-5868 - Space Coast Area Homes

Great info Donna, thanks!

February 27, 2011 02:12 AM #4
Rainer
234,262
Doug Bullwinkel
Vitek Mortgage Group - Roseville, CA
NMLS #281609

With all the money they will save on the good neighbor next door program, they can afford to buy a good guard dog and alarm system.  Restrictions apply in specific neighborhoods. 

February 27, 2011 02:33 AM #6
Rainmaker
236,633
Judy Klem
Transition Stage LLC - Shelton, CT
Home Staging, Senior Move Management, Fairfield/New Haven counties

Hi Donna - Great information, very clearly written! What a good resource you've given here.

February 27, 2011 07:40 AM #7
Rainer
114,287
Cinnamon Wright
Wilmington Real Estate 4U 910.547.1446 - Wrightsville Beach, NC
Assistant to Tish Lloyd

Thanks for this info.  Like having it all in one place so I can reference back to it!

February 27, 2011 07:54 AM #8
Rainmaker
1,346,182
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Excellent post, applicable anywhere, for consumers looking to purchase a HUD home.  Thanks for sharing your knowledge Donna.

February 27, 2011 08:13 AM #9
Rainmaker
862,326
Donna Foerster
Cherry Creek Properties, LLC - Parker, CO
Metro Denver Real Estate Agent

Thanks Rebecca~ My goal is to be a useful resource for my clients, potential clients and colleagues.

Thank you Dan~ Sharing good information helps to make consumers more knowledgeable.

Hi Melissa~ We would love the opportunity to work with buyers in Parker, or anywhere in the Metro Denver area.

Hello Kerry~ There are incredible opportunities to be had in the housing market.

February 27, 2011 02:21 PM #10
Rainmaker
862,326
Donna Foerster
Cherry Creek Properties, LLC - Parker, CO
Metro Denver Real Estate Agent

Hi Doug~ All of the HUD Special Programs have eligibility requirements and some restrictions.  It's best to work with a Realtor to be sure you understand what's available.

Thanks Judy~ Blogging is the perfect tool for sharing this type of information with the public.

Hello Cinnamon~ Convenience is my middle name!  :-)

I want my clients to be educated, Anita.  Knowledge is power.

February 27, 2011 02:37 PM #11
Rainmaker
225,908
Susan Jackson
America's Network Realty Group, Inc - Sandy Springs, GA

Great post.Thanks for emphasizing the price is not negotiable

February 27, 2011 03:35 PM #12
Rainmaker
862,326
Donna Foerster
Cherry Creek Properties, LLC - Parker, CO
Metro Denver Real Estate Agent

Hi Susan~ Thanks for stopping by.  There are so many opportunities for Home Ownership.  There programs are just one avenue.

February 27, 2011 04:41 PM #13
Rainer
76,672
Jason M. Keith
WR Starkey Mortgage - Parker, CO
Lending in 5280

Hello Donna, this is great information.  I'd say a couple times a year I get questions on the good neighbor program.  I made sure to put this on my blog as well!

February 28, 2011 12:26 PM #14
Rainmaker
862,326
Donna Foerster
Cherry Creek Properties, LLC - Parker, CO
Metro Denver Real Estate Agent

Hi Jason~ Between the 2 of us, anyone searching for a home in Parker will be well educated and prepared!  :-)

February 28, 2011 01:26 PM #15
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Rainmaker
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Donna Foerster

Metro Denver Real Estate Agent
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