What does "Lottery" mean on a HUD Listing? Good Neighbor Next Door Program for Firefighters, EMT's, Police & Teachers. Are YOU eligible for a Half Priced House?

By
Real Estate Agent with Granville, Newark, Heath, Buckeye Lake & all of Central Ohio
http://actvra.in/4bd9


Have you ever looked at listings on the HUD Website and seen Lottery as the listing type? These properties have been chosen for the

"Good Neighbor Next Door Program"

where Law Enforcement, pre-K thru 12th grade teachers, firefighters and EMT's can purchase the house for HALF OFF the list price.

Are you eligible

If so, you will have just 5 days to submit your interest in purchasing the home. After the 5 days is up, the half price option is gone.

In return for paying half price for this home, the purchaser is required to live in the home as their sole residence for 36 months and sign a "silent second" mortgage and note for the discounted amount (the other half). As long as you comply with the required 3 year occupancy, HUD will release the second mortgage when the time is up.

Providing false information is a felony and HUD will prosecute.

 

Posted by

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Remax realtor buyers agentContact Buyer's Agent Tracie Cope, REALTOR®
Direct: 740-405-6231 - call or text
E-mail: tracie814  @  gmail.com


Re/Max 360
Licking County, Buckeye Lake

Your source for Licking County MLS, Property Search, Home, Homes For Sale, Real Estate Listings, Newark, Granville, Heath, Thornville, New Albany, Johnstown, Farm, Farms, Ohio, Buckeye Lake, Real Estate, MLS, Multiple Listing Service, Granville, OH, Licking County Real Estate, Licking County Property Search, Licking County Homes For Sale

 

 

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Toni Weidman 06/28/2011 07:42 AM
Topic:
Home Buying
Location:
Ohio Licking County
Groups:
Active Rain Newbies
Advice for Buyers
Foreclosures
RE/MAX Active Rain Bloggers
Tags:
hud homes
good neighbor next door
lottery
half priced house
teacher
firefighter
police
emt
paramedic

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Toni Weidman
Re/Max Sunset Realty - Trinity, FL
23 Years Selling Homes in New Port Richey, FL

This is very interesting, Tracie. I don't deal much in foreclosed homes so wasn't aware of this. Thank you for posting it and I will look into it further.

I'm suggesting it too.

Jun 28, 2011 07:37 AM #1
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Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Tracie one could really do well in real estate if they focused on this niche.  There are so many people that don't even have a clue that this exist.

Jun 28, 2011 08:53 AM #2
Rainmaker
260,920
Coral Gundlach
Century 21 Redwood Realty, Arlington Virginia - Arlington, VA

I've never heard of this!  Thanks for blogging about it.

Jun 28, 2011 10:29 AM #3
Rainer
207,396
Tracie Cope
Granville, Newark, Heath, Buckeye Lake & all of Central Ohio - Granville, OH
ReMax 360 - www.LCountyHomes.com

Toni - I deal mostly with foreclosed homes, just wish I dealt with more firefighters, teachers, cops and paramedics!

Charita - I think the hard part is that we don't know in advance, when or if one of these listings is going to come on the market.  Once it does, there's only 5 days.  For a long time, I didn't see any in our area, but lately I've been seeing more of them.

Coral - I had heard of it, but never seen one listed in our area until this year.  It sounds like a wonderful opportunity if you're eligible. 

Jun 28, 2011 12:46 PM #4
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Lynn B. Friedman
- - - Concierge Real Estate Services for YOU - - - Providing SERVICE for Sellers & Buyers is our BUSINESS - Atlanta, GA
REALTOR ATL BuckheadMidtownWestside 404.939.2727

Dear Tracie -

CONGRATULATIONS!

You were right on top when I searched YAHOO for
definition of LOTTERY phase in HUD listings

Good work!!
Have a happy day -
lynn

May 06, 2013 09:39 PM #5
Rainer
207,396
Tracie Cope
Granville, Newark, Heath, Buckeye Lake & all of Central Ohio - Granville, OH
ReMax 360 - www.LCountyHomes.com

Thanks for the info Lynn! Since I wrote this, I have learned that Lottery can also be for non-profits and government agencies. 

May 07, 2013 02:49 AM #6
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Rainer
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Tracie Cope

ReMax 360 - www.LCountyHomes.com
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