HUD Housing Discount Extended To First Responders

<p>A program that allows police officers and teachers to buy foreclosed homes in designated neighborhoods at half of their appraised value has been extended to include firefighters and emergency medical technicians.</p>
December 2, 2006, 9am PST | Nate Berg
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The aim of the "Good Neighbor Next Door" sales program is to improve conditions and life in distressed areas.

"The program, first offered to full-time law enforcement officers in 1997 and then expanded to include educators and firemen, allows participants to purchase HUD-acquired homes in designated revitalization areas at a 50 percent discount from their list prices."

"Since its inception, 11,633 foreclosed houses have been sold at half price to participants--7,073 to cops, 4,498 to teachers and 62 to firefighters and EMTs."

"Revitalization areas are HUD-designated neighborhoods in need of economic and community development where there is a strong commitment by the local governments. There are hundreds of such areas throughout the country."

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Published on Sunday, November 26, 2006 in The Chicago Tribune
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