What Types of Discount Programs Are Offered by HUD?
The discounts already mentioned for hurricane survivors, as well as survivors of Hurricane Gustav, are not the only discount programs offered by HUD.
Homes are offered to law enforcement officials, firefighters, teachers, nonprofits, emergency medical technicians, and local governments in revitalization areas.
These programs are referred to as "dollar homes" and "sales to nonprofits."
Dollar homes are single family homes that offered to low and moderate income familes at $1 each. If the homes are on the market for six months, the communities may fix them and make use of them at a considerable savings. They are used for community revitalization.
Homes are offered to faith and community nonprofit organizations through "sales to nonprofits." The agencies may buy the homes at a 30% discount. The agencies may then sell the homes to low and moderate income individuals. If you buy a HUD home, you might realize huge savings.