Saturday, March 17, 2012

HUD Program helps Public Servants Buy Homes

Apartment Specialists CardHUD's new Program, the Good Neighbor Next Door program, is helping local Austin educators and public servants buy the house of their dreams.  The Department of Housing and Urban Development's program takes houses that were foreclosed upon after they were bought with FHA loans, and then offers special grants to police officers, firefighters, EMTs and teachers to buy the houses for half their value.  In return, the recipient has to commit to living in the house for at least three years.

The goal of the program is for these professionals to take a leadership role in the community around them, specifically ones that have been labeled as "undesirable".  There are only four or five homes available per year in the Austin area, so the recipients are determined from a lottery of eligible applicants, KVUE.com reports.  For many of these people who work so hard for the public good, this program is their only chance at buying a home. 

Looking for a home of your own?  Apartment Specialists can help you find the perfect apartment to call your own!

photo by Wonderlane