|
|
Did You Know?
|
|
SUBSCRIBE
to Single Family Housing email list. You will get frequent
updates to the HOC Reference Guide, training and event
announcements, mortgagee letters and notices about your
Single Family business.
|
|
|
HUD's Dollar Homes initiative allows local governments to purchase
qualified HUD-owned homes for $1 each to create housing for families
in need and to benefit neighborhoods.
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 non-profit homeownership
organizations or tap into existing local programs to resell the
homes to low- and moderate-income residents of the community.
To find out if properties are available for sale in your community,
visit HUD Homes and
click on your state.
For detailed program information on HUD's Dollar Homes, read the
Office
of Housing Notice.
|