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Dollar Home Sales

Published on AidPage by IDILOGIC on Jun 24, 2005

Possible uses and use restrictions...

Single family homes that are acquired in foreclosure actions by the Federal Housing Administration (FHA) will be eligible for sale to local governments across the nation for $1 plus closing costs when the properties have been listed for at least six months and remain unsold. Local governments buying HUD properties for $1 plus closing costs may sell or rent them to low- and moderate-income families, to first-time homebuyers, or to groups that will use the properties to provide services such as child-care centers, domestic abuse shelters, job training centers, etc.