Dollar Foreclosure Program
Foreclosures get a bad rap most of the time. HUD, the U.S. Department of Housing and Urban Development, has developed a program designed to overcome that negative stereotype.
Their Dollar Homes initiative is exactly as it sounds – foreclosure homes that have been on the market for at least six months are eligible to be sold to local governments for $1.
This allows local communities the chance to purchase homes at a great rate, while also spurring the revitalization of neighborhoods and attracting new residents and businesses.
It also allows communities and governments the ability to address the need for low to moderate income housing.
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