Buy a HUD home: Good Neighbor Next Door program for EMTs

You've built a career around helping others and the U. S. government wants to reward you by helping you buy HUD homes.

You've built a career around helping others and the U. S. government wants to reward you by helping you buy HUD homes. Emergency medical technicians who are shopping for homes can now get in on some great deals on HUD-owned real estate in many areas of the country and other homes, through HUD's Good Neighbor Next Door (GNND) Program. If you've been thinking now might be a good time to buy a foreclosed home and you're an emergency medical technician, you may qualify for a huge reduction in the price of a home.

The government's goal with this program is simple: build strong communities by filling them with people who will contribute to the revitalization of the community . Emergency medical technicians who qualify for the GNND will get a 50 percent discount off a home's listing price. You must agree to live in the home for at least 36 months.

The homes offered under this program are located in a designated area that has been specified by the Federal Housing Administration as a revitalization area. You may find that many areas have homes that you qualify to buy with the GNND program. The easiest way to find out where revitalization areas are in your town is to talk to a HUD housing counselor.

Because properties listed under this program are only available for the discounted rate for a five-day period, you may have to act quickly. Prior to trying to buy HUD homes with the emergency medical technician program, you will need to submit a letter of interest, which is also available on the website.If two or more people are interested in the same home, a random lottery will determine who gets to buy it. You will be required to sign a silent second mortgage on the discounted 50 percent of the home price. This half never comes due as long as the you live in the residence for the required 36 months.

It is important to note that not all EMTs are eligible to buy HUD homes under this program. You must be employed full time by an EMS response unit or fire department in order to qualify. However, there is no minimum time of employment required for participation. To find a HUD-authorized real estate agent who can help expedite the process required to buy HUD homes at a discount, go to RealtyNow.