What is the Good Neighbor Next Door Program?

Did you know there’s a program offered by the Administration of Housing and Urban Development (HUD) designed specifically for law enforcement officers, teachers (pre-Kindergarten through 12th grade), firefighters and emergency medical technicians, which makes it easier to buy a home?

HUD’s Good Neighbor program offers incentives in the form of 50% off list price, and in exchange, the buyer must commit to live in the property for 36 months as your sole residence.

These types of properties are what’s known as HUD homes, and they can actually be a fantastic deal for buyers, especially those in the career fields listed above. A HUD home is one owned by the HUD. Before a home becomes the property of HUD, it typically was owned by a regular homeowner who is no longer able to pay his or her monthly mortgage and ends up in foreclosure. When this happens, the home goes to HUD, which then must sell it to recoup the loss.

HUD homes are typically sold as-is. Repairs can be minimal or extensive. However, just like a traditional home sale, you’ll have the opportunity to have the house inspected. This will allow you to understand just how minimal or significant repairs will be.

If you’re on the hunt for a house in Denver and meet the criteria listed above, purchasing a HUD home through the Good Neighbor Next Door Program may be a fantastic way to break into homeownership. It’s also a great way to contribute to the revitalization of up and coming areas and be a real part of the community.

Think you’re ready to check out HUD homes in the Denver area? Your first step is to find a pro who knows the ins and outs of these types of sales. That’s where Metrowest comes in! Give us a shout today – we specialize in these types of sales and would love to help you start the process.

Ken Blevins

About Ken Blevins

Ken Blevins, CEO of Metrowest Real Estate Services, is a veteran in mortgage and default servicing with more than 24 years of experience in collections, foreclosure/bankruptcy, loss mitigation and real estate disposition (REO). Blevins was an original co-founder of Metrowest in 2003, a Real Estate Brokerage and Services Company focused on the resale, recovery and liquidation of distressed real estate in Denver, Colorado and surrounding metros. Blevins assumed the role of CEO in January 2014 and provides strategic direction and has management accountability for the day-to-day operations. Under his direction, Blevins drives all default management operations to maximize asset value recovery and reduce loss severity through a strategy focused on customer service and state of the art technology. Blevins has 18 years of direct operational experience in all facets of REO Asset Management having managed large national REO Disposition contracts for Fannie Mae, Freddie Mac, Wells Fargo, JP Morgan Chase, CitiFinancial, GMAC Mortgage and other various financial institutions. Blevins specialties include REO asset management, real estate investment, bulk REO acquisitions and distressed asset recovery and liquidation, and he has directed the resolution and liquidation of over ten billion in institutionally-owned residential real estate.

Get More Real Estate Market Info... Subscribe Below!

Learn more about us and find other resources on buying investment properties with us. Like us, follow us, connect!

No comments yet.

Leave a Reply