The U.S. Department of Housing and Urban Development(HUD) has recently rolled out a substantial incentive for home-buying. This program is intended for some of our nation’s most important service industry professionals, who are in most cases grossly underpaid for their professions. “Law Enforcement officers, pre-Kindergarten through 12^th grade teachers and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD’s Good Neighbor Next Door Sales Program.” HUD is offering a discount of 50% from the list price of the home…let me just state that one more time…50% off of the list price of the home! In return, the qualified home-buyer must commit to live in the purchased property as a primary residence for at least 36 months.

A couple of caveats do exist, but nothing that would ultimately affect the offer if the agreement is satisfied. HUD will require that the buyer sign a second mortgage and note for the amount of the discount, known as a, “Silent Second”. No interest or payments would be required provided that the 36 month primary occupancy is fulfilled. A buyer must meet HUD’s requirements for being a law enforcement officer, teacher, firefighter or emergency medical technician and also comply with the program regulations.