I've been following the HUD foreclosure program for a while now. I have a friend who just got a job as a firefighter and is looking into buying his first home. I'm interested in the HUD "Good Neighbor Next Door" program which gives a 50% discount to public service employees. To my understanding, this program requires that the property be located in a "Revitalization Area". I haven't been able to find any applicable properties in my area (southeastern MA) and even searched several other states and found nothing.
Does anyone know anything about this program that could shed some light for me?
@Aaron Parsons your correct, the homes are typically in areas that are being gentrified or rundown. You are required to live in the property for three years in order to reap the benefit of the 50% mortgage. The problem as you've found is finding properties that are available. Keep active in searching them out, we had a couple guys in our fire department that bought into the program and did very well.