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.)

Posted by

 

Follow Me on Twitter Follow Me on Facebook Lets get Linkedin

rich and donna

Donna Foerster

The Foerster Team

Cherry Creek Properties, LLC

www.TheFoersterTeam.com

720-530-5554 (cell)

Equal Housing Logo

 Realtor Logo

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the woman to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Home Buying
Location:
Colorado Douglas County Parker
Groups:
Advice for Buyers
WeBlog Anything (almost)!
Never Answer The Same Question Twice
HUD Homes
Local Expert
Tags:
parker colorado
donna foerster
hud homes

Comments 14 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tree to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
1,371,399
Rebecca Gaujot, Realtor®
Lewisburg WV Real Estate, Greenbrier County
Coldwell Banker Stuart & Watts Real Estate

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

February 27, 2011 01:20 AM
Rainmaker
497,627
Dan Edward Phillips
Humboldt and Del Norte Counties, CA
Dan Edward Phillips, Humboldt and Del Norte Counties, CA

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

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

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

February 27, 2011 01:40 AM
Rainmaker
359,169
Kerry Klun
321-626-5868 - Space Coast Area Homes
Tropical Realty of Suntree

Great info Donna, thanks!

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

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
Rainmaker
236,633
Judy Klem
Home Staging, Senior Move Management, Fairfield/New Haven counties
Transition Stage LLC

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

February 27, 2011 07:40 AM
Rainer
114,287
Cinnamon Wright
Assistant to Tish Lloyd
Wilmington Real Estate 4U 910.547.1446

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

February 27, 2011 07:54 AM
Rainmaker
1,341,690
Anita Clark
Realtor - Homes for Sale in Warner Robins GA
ColdwellBanker SSK Realtors ~ 478.960.8055

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

February 27, 2011 08:13 AM
Rainmaker
856,663
Donna Foerster
Metro Denver Real Estate Agent
Cherry Creek Properties, LLC

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
Rainmaker
856,663
Donna Foerster
Metro Denver Real Estate Agent
Cherry Creek Properties, LLC

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
Rainmaker
225,583
Susan Jackson
America's Network Realty Group, Inc

Great post.Thanks for emphasizing the price is not negotiable

February 27, 2011 03:35 PM
Rainmaker
856,663
Donna Foerster
Metro Denver Real Estate Agent
Cherry Creek Properties, LLC

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
Rainer
76,672
Jason M. Keith
Lending in 5280
WR Starkey Mortgage

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
Rainmaker
856,663
Donna Foerster
Metro Denver Real Estate Agent
Cherry Creek Properties, LLC

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
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the scissors to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
856,663

Donna Foerster

Metro Denver Real Estate Agent
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the flag to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: