HUD Homes Offered to Hurricane Katrina Evacuees
HUD announced Monday that it will give Gulf Coast hurricane evacuees an opportunity to purchase 20,000 HUD-owned properties at a discount.
Families living in interim rental housing may purchase the homes they are currently occupying at a 10% discount off the fair market value. In addition, HUD will help tenants pay for property repairs with a escrow credit equal to 15% of the purchase price.
HUD will pay all reasonable and customary closing costs, up to 5% of the contract price. HUD will also pick up the tab for all real estate brokerage fee’s. The buyer must agree to occupy the property as a primary residence for at least 12 months.
For more information visit http://www.hud.gov/offices/hsg/sfh/faqs/katsales.cfm