GOOD NEIGHBOR NEXT DOOR (GNND) BUYER PROGRAM
The U.S. Department of Housing and Urban Development (HUD) wants to make American communities stronger and to build a safer nation. The Good Neighbor Next Door (GNND) program helps make this goal a reality by encouraging law enforcement officers, pre-K through 12th grade teachers and firefighters/emergency medical technicians to become homeowners in revitalization areas.
Law enforcement officers, pre_kindergarten through 12th 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 offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence. The 50% discount is only available during the Lottery Bid Period.
HOW THE PROGRAM WORKS
Eligible Single Family homes located in revitalization areas are listed exclusively for sale through the Good Neighbor Next Door Sales program. Properties are available for purchase through the program for five (5) days.
HOW TO PARTICIPATE IN THE GOOD NEIGHBOR NEXT DOOR PROGRAM
Check the listings for North Carolina. Follow the instructions to submit your interest in purchasing a specific home. If more than one person submits on a single home a selection will be made by random lottery. You must meet the requirements for a law enforcement officer, teacher, firefighter or emergency medical technician and comply with HUD's regulations for the program.
HUD requires that you sign a second mortgage and note for the discount amount. No interest or payments are required on this "silent second" provided that you fulfill the three-year occupancy requirement.
The number of properties available is limited and the list of available properties changes weekly.
WHO CAN PARTICIPATE
Law Enforcement Officers:
You may participate in the Good Neighbor Next Door program as a law enforcement officer if you are employed full-time by a law enforcement agency of the federal government, a state, a unit of general local government, or an Indian tribal government, and, in carrying out such full-time employement, you are sworn to uphold, and make arrests for violation of, fereral, state, tribal, country, township, or municipal laws.
You may participate in the Good Neighbor Next Door program as a Teacher if you are employed as a full-time teacher by a state-accredited public school or private school that provides direct services to students in grades pre-kindergarten through 12. In addition, the public or private school where you are employed as a teacher must serve students from the area where the home you are purchasing is located in the normal course of business.
Firefighter / Emergency Medical Technicians:
You may participate in the Good Neighbor Next Door program as a Firefighter/Emergency Medical Technician if you are employed full-time as a firefighter or emergency medical technician by a fire department or emergeny medical service responder unit of the federal government, a state, unit of general local government, or an Indian tribal government serving the area where the home is loacted.
TO SUBMIT AN OFFER SEE YOUR LOCAL HUD-REGISTERED BROKER
When a Firefighter / EMT / Law Enforcement Officer / Teacher has identified a property to purchase, they must submit their bid through a HUD-Registered Broker (like Jim Artzner). For a list of local approved agents, click on the "Find A Broker" tab. Next from the "State" drop down menu select "NC". Now you can type in the Brokers name (James Artzner), city (Kernersville) and or Zip Code "27284" or any other information and hit select to see a list of Register HUD Brokers for the area you have requested. Do this search from the HUD Home Store web site.
To learn more about the Good Neighbor Next Door Program click on this FAQ Link.