Good Neighbor Next Door Program Has Homes at Discounted Prices
WHAT IS THE GOOD NEIGHBOR NEXT DOOR PROGRAM?
The Good Neighbor Next Door Program is a program available on certain Housing and Urban Development (HUD) properties that are available for sale. Law enforcement officers, pre-Kindergarten through 12th-grade teachers, doctors, and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through this program. HUD offers a substantial incentive (a discount of 50%) from the list price of the home. In return, the buyer (the Good Neighbor Next Door) must commit to live in the property for 36 months as buyer’s primary residence.
HOW THE PROGRAM WORKS
Eligible Single Family homes located in revitalization areas are listed exclusively for sales through the Good Neighbor Next Door Sales Program. Properties are available for purchase through the program for seven days.
HOW TO PARTICIPATE IN GOOD NEIGHBOR NEXT DOOR
Check the listings for your state. Contact one of the agents at Broadpoint Properties, and they can help you to submit your interest in purchasing a specific home. If more than one person submits on a single home, a selection will be made by random lottery. Buyers must meet the requirements for a law enforcement officer, teacher, firefighter or emergency medical technician and comply with HUD’s regulations for the program.
HUD requires that the buyer sign a second mortgage and note for the discount amount. No interest or payments are required on this “silent second” provided that you fulfill the three-year occupancy requirement. At the end of the three year period, the “silent second” mortgage lien will be removed from the property.
We can help sellers throughout San Diego North County and beyond to avoid foreclosure and walk away from their home without having to pay a penny, and without having their credit ruined by foreclosure or bankruptcy.