Good Neighbor Next Door program GNND

[Janet Braden]

In the next few days HUDHomeStore.com will have a property available
in Springdale eligible for the GNND program so I wanted to provide you
with a little more information about it if you are asked.

The Good Neighbor Next Door Program (GNND) allows properties in HUD
designated Revitalization Areas to be sold at a discount to Firemen,
Teachers, Policeman, and EMTs who work in the area. The GNND period
only lasts for the normal lottery round time (normally 7 days). The
qualified person who wants to purchase under the program bids at full
price with no concessions. If they win the lottery, then their sales
price is discounted 50%. They are required to sign documents that they
will remain in the property as an owner occupant for a period of time
(3 years). The buyer will sign a "soft second" note with HUD that is
forgiven provided the property is owner-occupied for the required
period of time. A buyer may sell the property during the 3 year period
but will then repay HUD back, prorated for the amount of time the
owner lived in the property.

Here's the really important part for you... While an agent has to
submit the offer, HUD pays no commission to either a listing or a
selling broker for a property sold under this program. If an agent
wishes to represent a GNND they can have the buyer pay them directly
for their services, but this occurs off the HUD. You can find more
information about this program at www.HomeTelosFirst.com or www.HudHomeStore.com
or feel free to give me a call.