HUD-owned single-family properties located in a Revitalization
Area are eligible for discounted sale through special programs, including:
- Asset Control Area (ACA): Foreclosed
properties conveyed back to FHA that are located in a designated ACA are
first offered for sale to an ACA participant. Under the ACA Program,
state, county and local units of government, as well as approved nonprofit
organizations may enter into a two-year contract with HUD requiring HUD to
first make FHA properties located in an ACA exclusively available for sale
to the ACA participant. ACA properties with an appraised value of $25,000
or less may be purchased for $100; all other properties sold under the ACA
Program are offered for sale at a minimum discount of 50 percent of the
appraised property value.
- Good Neighbor Next Door (GNND): Under
GNND, HUD offers certain single-family properties for sale to police
officers, teachers, fire fighters, and emergency medical technicians at 50
percent off of the list price.
- HUD’s Single
Family Home Locator displays maps of REO properties and
special programs such as Revitalization Areas and Block Grants. There
are many revitalization areas across the
country. HUD is always working with localities to designate new areas.[1]
[1] https://www.hud.gov/program_offices/housing/sfh/reo/abtrevt
