HUD-Approved Home
Buyer Education Seminar Sponsored by HUD-PEMCO, Ltd.
Teamed
with Ms. Felicia Payne, HUD-approved Buyers’ Counselor
Attendees receive Home Buyer Education Certificates
Saturday, May 17 08:00 am to 2:30 pm
Lunch is
provided. Event is free.
Clayton
State University-Harry S. Downs Continuing Education
Center
2000
Clayton State Boulevard
Morrow,
GA 30260
Reservations required.
678-298-1617
www.hudpemco.com
HUD-Approved Homebuyer
Education Seminar
Sponsored by HUD-PEMCO, Ltd.
Teamed with Ms. Felicia Payne, HUD-approved Buyers’
Counselor.
Attendees
receive Home Buyer Education Certificates.
Saturday, March 15 10:00 am to 4:30 pm
Free Event. Lunch is provided.
South Terraces Building-Keller Williams Realty Training
Room
115 Perimeter Center Place Suite 100
Reservations required. Please call
678-298-1617.
Attention Georgia Home Buyers and Brokers - “Buy HUD with FHA”
There is an update to the sales incentives that are
available to buyers and brokers in the state of Georgia.
Effective with the bids and contracts that were awarded
on February 12, 2008, selling brokers representing owner
occupant buyers are entitled to a $500 broker bonus;
regardless of the type of financing that the buyers are
using. (Prior to this update, the $500 selling broker
bonus was being awarded only to brokers who represented
buyers that used FHA203(k) financing. This is no longer
a requirement.)
The $100 down payment option for owner occupant buyer
purchasing a HUD home with FHA financing is unchanged
and still in effect.
Attention Home Buyers in California, Hawaii, and Guam
- “Relief in Real Estate”
The following
sales incentives are available on California, Hawaii, and Guam
HUD owned properties advertised to the general public with a
list date of January 4, 2008, or later.
1. $100 Down
Payment – available to owner occupant purchaser(s) using FHA
financing to purchase their HUD home.
2. $1,000
sales allowance to be paid at closing to owner occupant
purchaser(s) on properties purchased with a full price offer.
(Type of financing used is not a consideration for this
incentive.)
3. An extra
$500 to the selling broker for securing and closing an owner
occupant sale. (Type of financing used is not a consideration
for this incentive. The offer does NOT have to be a full price
offer for this incentive to apply.)
It's
a great time to Purchase a HUD home.
Click here to view program details.
GOOD NEIGHBOR NEXT DOOR SALES PROGRAM
• Officer/Teacher Next Door
• Emergency Medical Technician Next Door
• Special Program for Nonprofits
• Dollar Home Government Sales Program
SPECIAL PROGRAM - HURRICANE DISASTER EVACUEES
Hurricane Disaster Evacuees from Katrina, Rita and Wilma hurricanes can purchase HUD Homes at a discount in accordance with HUD's regulations. The Buyer must utilize the services of a HUD-registered real estate broker. Links to program information. HUD links:
Press Release - HUD to Sell Homes at a Discount, and FAQs Hurricane Discount Home Sales Program
SPECIAL PROGRAM - GOOD NEIGHBOR NEXT DOOR SALES PROGRAM
GNND is a special home buying program available to Officers, Teachers, Firefighters, Emergency Medical Technicians, Non-Profit Agencies, and Local Governments. The GNND program was designed to make American Communities stronger. More information on this program can be found at http://www.hud.gov/offices/hsg/sfh/reo/goodn/gnndabot.cfm
What is Officer/Teacher Next Door?
One of HUD's Special Sales Program under the Good Neighbor Initiatives is the Officer Next Door/Teacher Next Door (OND/TND) program. The OND/TND Programs offers HUD-owned, single family homes that are located in HUD designated Revitalization Areas will be made available to Law Enforcement Officers and Teachers at a 50 percent discount of the last listed price. When a law enforcement officer or teacher chooses to use an FHA-insured mortgage the down payment is $100. When a governmental agency of nonprofit organization is the purchaser, HUD expects that the full discount will be passed on to the law enforcement officer or teacher. Officer Next Door/Teacher Next-Door program participants are required to own and use their property as their sole residence for at least three (3) years. Participants agree to execute a second mortgage and note which will be for the amount of the discount which HUD can call at a later date if the buyer fails to re-certify. During the entire term (3 years), the buyer may NOT own ANY residential real property other than the OND/TND home. Failure to comply with this (or any OND/TND) requirement may result in the remaining balance of the second mortgage becoming immediately due and payable. The officer or teacher must submit a contract bid of 100 percent of the listing price. Winning bidder will be chosen by lottery. The 50 percent discount will be applied at closing. Teachers must be employed in the school district that they purchase a home in under the Teacher Next Door Program. More information on this program can be found at http://www.hud.gov/offices/hsg/sfh/reo/goodn/main.cfm
What is Firefighter - Emergency Medical Technician Next Door?
Effective November 1, 2005, HUD announced the eligibility of firefighters and emergency medical technicians to purchase HUD acquired homes located in HUD designated revitalization areas at a discount, in accordance with HUDÕs regulations for the Officer/Teacher Next Door (OND/TND) Sales Program. Inclusion in the OND/TND program is designed to help more firefighters and emergency responders become homeowners, and will further the goals of the OND/TND Sales Program to accelerate the revitalization of AmericaÕs cities by promoting the integration of dedicated role models and mentors into the community. More information can be found at http://www.hudpemco.com/choose_specials.htm
Does HUD have any special programs for Non-profit organizations?
Yes, FHA offers community & faith-based non-profit organizations the opportunity to purchase HudHomes, at discounts up to 30 percent, under the Direct Sales Program. With this discount, local non-profit organizations invest in their communities through property rehabilitation & resell to first-time homebuyers and low-moderate-income families. FHA also offers non-profit agencies favorable FHA insured mortgage financing terms & opportunities for downpayment assistance programs. For more information please visit: http://www.hud.gov/offices/hsg/sfh/np/np_prog.cfm
Important Information for Nonprofit Agencies (starting August 15, 2007)
• FOR NEW APPLICANTS - HUD is in the process of transitioning to an on-line application system for Nonprofits applying/re-certifying for approval to participate in FHA activities. Starting August 15, 2007 all new Nonprofits that want to obtain HUD approval to participate as a FHA mortgagor, purchase HUD Homes at a discount, or administer a Secondary Financing/ Down Payment Assistance Program must submit an e-mail directly to their local Homeownership Center (HOC), Program Support Division, indicating that your organization would like to apply for approval to participate in FHA Nonprofit activities.
• FOR RE-CERTIFYING APPLICANTS - Nonprofits that need to re-certify, must submit an e-mail to the local HOC stating that your organization would like to apply for re-certification and request a password and user id. After your e-mail is received, HUD staff will send your organization an e-mail with instructions for accessing the on-line application system and a password and user ID.
Does HUD have any special programs for Government Agencies?
Yes, the Dollar Homes initiative helps local governments to foster housing opportunities for low to moderate income families and address specific community needs by offering them the opportunity to purchase qualified HUD-owned homes for $1 each. Dollar Homes are single-family homes that are acquired by the Federal Housing Administration (which is part of HUD) as a result of foreclosure actions. Single-family properties are made available through the program whenever FHA is unable to sell the homes for six months. By selling vacant homes for $1 after six months on the market, HUD makes it possible for communities to fix up the homes and put them to good use at a considerable savings. The newly occupied homes can then act as catalysts for neighborhood revitalization, attracting new residents and businesses to an area. Local governments can partner with local nonprofit homeownership organizations or tap into existing local programs to resell the homes to low- and moderate-income residents of the community. For more information please visit: http://www.hud.gov/offices/hsg/sfh/reo/goodn/dhmabout.cfm
HUD Links:
Housing Notice 99-30 - Disposition of HUD-Acquired Single Family Property; Good Neighbor Next Door Sales Program; Final Rule
Q&A: Good Neighbor Next Door Sales
GNND Sales Program
About Good Neighbor Next Door
HUD Revitalization Areas
GNND Forms and Fact Sheets:
Officer/Teacher/Firefighter/Emergency Medical Technician Certification Form
Agreement to Execute Second Mortgage Note Form
Local Government Addendum (Dollar Home) Form
Officer Fact Sheet
Teacher Fact Sheet
Firefighter/EM Technician Fact Sheet
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