My husband and I are both teachers and would like to participate in HUD's "Good Neighbor Next Door" program where you can buy a house at 50% the value if you are a teacher and live in it for at least 3 years. Has anyone done this or had experience with HUD in the past? Is it a legit thing?
2007-03-25 10:30:02 · 2 answers · asked by wishywashy 1 in Business & Finance ➔ Renting & Real Estate
How do you find out what cities or areas that would have houses that qualify?
2007-03-25 10:59:43 · update #1
It is legit. And as a teacher you can get lot of help from a HUD home, but in the same token there is a lot of restrictions and guidelines. Make sure you use a reputable R.E. Agent that is register with HUD. They make try to change your mind to go to another program where they could make more money.
2007-03-25 10:45:01 · answer #1 · answered by nanamania 1 · 0⤊ 0⤋
It is a good program for people like yourselves. I don't know if it is offered in all areas and the restrictions vary from location to location. The idea is to get desirable owners in what has been less than desireable neighborhoods. The concept is good and I haven't heard anything bad about it though. You might want to check with local governments and see if they have anything similar. A few years back Dallas had a programencouraging teachers, firemen, police to live in the neighborhoods they served. Don't know if it is going anymore though.
2007-03-25 10:55:57 · answer #2 · answered by ttpawpaw 7 · 0⤊ 0⤋