Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities

U.S. Government Accountability Office

Good Neighbor Next Door

Administering Agency/Entity Department of Housing and Urban Development
Short Description Provides law enforcement officers, teachers, firefighters, and emergency medical technicians the opportunity to purchase homes at a significant discount. The Federal Housing Administration (FHA) acquires the homes, which are located in revitalization areas, through foreclosure. To make these homes even more affordable, eligible program participants may apply for an FHA-insured mortgage with a down payment of only $100. Because homes sold through this program are located in revitalization areas, there may be additional assistance from state or local government sources. If the home needs repairs, the purchaser may also use FHA's Section 203(k) mortgage program for both the purchase of the home and cost of needed repairs.
Primary Purpose Assistance for buying, selling, or financing a home
Type of Housing Supported Homeownership
Type of Assistance Property disposition
Fiscal Year 2010 Obligations Costs/savings associated with property disposition are among the items factored into subsidy rates and are included in expected credit subsidy costs under the Mutual Mortgage Insurance Fund.

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