Pay only 50% of the Contract Price for your next Home!
Friday, 24 December 2010 05:47
In an effort to promote home ownership and revitalize communities, HUD has initiated the Good Neighbor Next Door Program. This program allows for home buyers to bid on homes and only pay 50% of the contract price. For example, if a buyer offers $100,000 for a home that is accepted by HUD, the buyer will only pay $50,000.
The buyer must be a firefighter, policeman, EMT, or teacher, must not own any other home and plan to live in the home for at least three years to qualify for the Good Neighbor Next Door program. The buyer will sign a second mortgage for the other 50% of the contract price but will not make any payments or interest on this mortgage as long as the buyer lives in the house for three years. After three years, the second mortgage will be terminated. The home must be in a revitalized area to qualify for this program. The buyer must use an approved HUD Real Estate Broker to place an offer on one of these homes.
If you are interested in additional information or would like to purchase a home in Columbia SC under the Good Neighbor Next Door Program, please contact me by email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or by phone 803-315-7303 to set up an appointment.
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Beautifully Maintained Home!
4 Bedrooms, 2 Baths, all brick home with wonderful back porch over looking a large back yard. Detached 2 car garage with plenty of room for a workshop.
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