The Teacher Next Door Program
WASHINGTON - Announcement by Secretary of Housing, Andrew Cuomo.
The Department of Housing and Urban Development's Teacher Next Door initiative will enable thousands of teachers to buy HUD-owned homes for half-price in economically distressed neighborhoods in the school districts where they work, in a move to help revitalize communities, Secretary Andrew Cuomo said today.
The Teacher Next Door initiative will offer an estimated 8,000 to 10,000 single-family houses, townhouses and condominiums for sale to teachers at 50 percent discounts every year in HUD-designated revitalization areas. These areas are low- and moderate-income neighborhoods that often have many vacant properties, but are considered good candidates for economic development and improvement. The same group of homes are available for sale to police officers at half-price under HUD's companion Officer Next Door initiative.
In addition to the 50 percent discount on the price of a home, teachers buying homes with mortgages insured by the Federal Housing Administration, which is part of HUD, can make the purchases with down payments as low as $100 under the Teacher Next Door initiative. FHA can also insure mortgages that cover costs of rehabilitating homes in need of repair.
In Miami-Dade County, seven ZIP Code areas are eligible for the program: 33015, 33054, 33142, 33147, 33150, and 33168.
Lists are updated each Wednesday.
Teacher Apartment Program
Equity Residential Properties Trust
Teacher Zero Down or Teacher Flex
Bank of America
Interested teachers should call 1-800-217-6970, or e-mail: email@example.com
E-mail comments and contributions to: firstname.lastname@example.org