Special Programs‎ > ‎

Good Neighbor Next Door

Good Neighbor Next Door Program

GOOD NEIGHBOR NEXT DOOR PROGRAM (GNND)              For Broker Training see Link Below.      

To be eligible, firefighters, EMT, law enforcement officers and teachers must be employed full-time and agree to make the homes their sole residence for three years following the purchase. In addition, Teachers, Firefighters, and Medical Technicians must serve the area where the home is located with exception to the Officer.

 Good Neighbor Next Door Sales Program    

OVERVIEW

  • Enables a full-time law enforcement officer, teacher, or firefighter/emergency medical technicians to purchase a specifically designated HUD-acquired home

·        At a 50 percent discount from the list price;

·        Property must be located in a revitalization area

·        Successful bidder is selected by random lottery

·        Offers must be submitted through real estate brokers

PURCHASER QUALIFICATIONS

·        Law enforcement officer

·        Teacher

·        Firefighter/emergency medical technician

·        Good faith intent to remain in employment status for one year

·        Earnest money

·        Fulfill owner occupancy period

·        No residential real property ownership for 1 year preceding offer submission date by either spouse

·        No prior participation in program by either spouse.

·        Only one spouse may purchase

LAW ENFORCEMENT OFFICER

·        Employed full-time by a law enforcement agency of the federal government, a state, unit of general local government, or an Indian tribal government; and

·        In carrying out such full-time employment, the person is sworn to uphold, and make arrests for violations of, federal, state, tribal, county, township, or municipal laws.

TEACHERS

·        Employed as a full-time teacher by a state accredited public school or private school that provides direct services to students in grades pre-kindergarten through 12; and

·        The public or private school where the person is employed as a teacher serves students from the area where the home is located in the normal course of business.

FIREFIGHTER/ EMERGENCY MEDICAL TECHNICIAN

·        employed full-time as a firefighter or emergency medical technician

·        by a fire department or emergency medical services responder unit of the federal government, a state, unit of general local government, or an Indian tribal government

·        serving the area where the home is located. 

OWNER-OCCUPANCY TERM

·        36 months

·        Starts on 30, 90 or 180 days from closing according to property condition

INTERRUPTION OF O-O PERIOD

·        Permitted if the interruption is necessary to prevent hardship as determined by HUD

·        Requires request in writing received 30 days or more from desired vacation date

·        Agrees to resume occupancy

SPECIAL FHA FINANCING INCENTIVES

·        Finance all reasonable and customary closing costs

·        Down payment of $100

MULTI-UNIT PROPERTIES

·        No

POST-PURCHASE OBLIGATIONS

·        Continue to own, and live in as his/her sole residence, the home purchased through the GNND Sales Program; and

·        Certify initially and once annually thereafter during and at the conclusion of the owner-occupancy term that s/he was at all times fully in compliance with paragraph (a) of this section.

GNND offerings will be made available pursuant to HUD program policies.  Prior to the public listing, properties in revitalization areas will be made available to qualified personnel.
 
 For Broker Training see Link Below.                        Go to top                                                                 
Ċ
Ran Dagan,
Feb 5, 2011, 10:13 PM