Dear KleptoKrats
Don't miss out. Yes, you and yours can buy foreclosed single-family homes that are acquired by the Federal Housing Administration (which is part of HUD) for $1.00.
The burning question is:
If HUD/FHA can sell foreclosed homes for $1.00, why not put people back into their homes?
Why not provide the family who lost their home first refusal?
How HUD would that be?
OK. For over a year I have wondered if this HUD policy, and quite frankly, a lot of HUD policies aren't just bureaucratically coated SCHEMES that the CASH RICH will be able to exploit under the guise of providing homes (for considerable profit if they only paid $1.00) to low income families.
I am curious if any of you have taken the time to plod through the HUGE and confusing HUD information on line. I don't know enough to see a RAT, but I do smell one.
Please jump in and help us all with our outrage that HUD/FHA is selling foreclosed homes for $1.00.
About Dollar Homes
Did You Know?
SUBSCRIBE to Single Family Housing email list. You will get frequent updates to the HOC Reference Guide, training and event announcements, mortgagee letters and notices about your Single Family business.
HUD's Dollar Homes initiative helps local governments to foster housing opportunities for low to moderate income families and address specific community needs by offering them the opportunity to purchase qualified HUD-owned homes for $1 each.
Dollar Homes are single-family homes that are acquired by the Federal Housing Administration (which is part of HUD) as a result of foreclosure actions. Single-family properties are made available through the program whenever FHA is unable to sell the homes for six months.
By selling vacant homes for $1 after six months on the market, HUD makes it possible for communities to fix up the homes and put them to good use at a considerable savings. The newly occupied homes can then act as catalysts for neighborhood revitalization, attracting new residents and businesses to an area.
Local governments can partner with local nonprofit homeownership organizations or tap into existing local programs to resell the homes to low- and moderate-income residents of the community.
http://www.hud.gov/...
How long will it be until most of us will qualify as low income?
PUT PEOPLE BACK IN THEIR HOMES. Maybe that seems unfair, or even crazy, but how much crazier will providing a home to families with affordable payments than the craziness of pouring billions down the rat holes of Citi and AIG?
And, yes, there is GRANT money to fix up and clean up these homes. It is just hard to find on-line. You can call your local HUD, FHA, or USDA office for local specifics.
Some grant for home improvements for example can come in the form of money given to you directly. The government give you a grant in order to fix your house or a home you are looking to buy in order to make it safe and liveable.
http://www.mygovernmentresources.com...