8/04/2021

ACA Property for $100?


 

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