Definition
A federal program administered by HUD that allows low-income families to purchase abandoned single-family dwellings owned or acquired by HUD through defaults on government insured mortgages and which have the potential to be repaired for habitation. Qualified families may purchase the dwellings for a very low price (usually one dollar) but are required to make necessary repairs and live in the homes for three years before receiving full title to the property. Also included are similar programs administered by other public entities.
URL Name
BH-7000-8100-900
Third Level Code
BH-7000
Taxonomy Code
BH-7000.8100-900
Parent Code
BH-7000.8100
Family Code
B
Second Level Code
BH
Fifth Level Code
BH-7000-8100-900
Fourth Level Code
BH-7000-8100
Use References
HUD Owned Homes for Sale, New Owner Repair and Own Programs, Repair and Own Programs
Publication Status
Online