A new program from Housing Urban Development (HUD) allows law enforcement officers to purchase homes at 50 cents on the dollar. The Officer Next Door Program was developed to promote safe neighborhoods by offering homeownership opportunities to law enforcement.
HUD sells homes it has acquired through foreclosure on defaulted mortgages insured by FHA at 50 percent of the FHA-listed price. These homes are located in HUD-designated revitalization areas or HUD-approved exception areas. These areas are neighborhoods that are comprised of vacant homes, including properties that need extensive repairs, and have been selected by the local government economic development efforts.
Applicants must be full-time law enforcement officers and agree to live at the property for at least three years. For more information, contact Jim Chelmowski at (888) 848-7798 or visit www.expertfinancing.com.