CFDA No. 14.310: TEACHER NEXT DOOR INITIATIVE
CATEGORY: Housing Assistance
The program is designed to strengthen America's communities by encouraging public and private school teachers to live in low and moderate income neighborhoods.
TYPES OF ASSISTANCE
Sale, Exchange, or Donation of Property and Goods.
USES AND USE RESTRICTIONS
Teachers (State-certified in grades Kindergarten through 12th grade) may purchase HUD-owned single unit properties located in designated revitalization areas at a 50 percent discount off list price. Teachers must agree to occupy homes as their sole residence for a period of 3 years. The teacher must also agree to execute a second mortgage and note in the name of the Department for an amount equal to the 50 percent discount. This zero interest note will gradually decrease over the 3-year mandatory residence period until it reaches zero. Should the teacher leave the home before the 1st anniversary of occupancy, 90 percent of the discounted amount will be due to HUD. Departure before the 2nd anniversary of occupancy will require a 60 percent repayment, and departure before the 3rd anniversary of occupancy will require a 30 percent repayment of the discounted amount. Teachers must certify initially, and once annually, for each year of the occupancy term, that he/she continues to own and live in the home as a sole residence, and that no other residential real estate is owned.
Applicant Eligibility: The Teacher Next Door program is limited to a specialized group. To be eligible for this program, participants must be employed full-time by a public school, private school, or federal, State, county, or municipal educational agency as a state- certified classroom teacher or administrator in grades K-12. In addition, eligibility requires participants to certify that they are employed by an educational agency that serves the school district/jurisdiction in which the home they are purchasing is located.
Beneficiary Eligibility: Teachers purchasing a HUD-owned home in a designated revitalization area within their school district, for use as their residence.
Regional or Local Office Contact HUD's Homeownership Center (HOC) serving your state. Each HOC has Teacher Next Door Coordinators. HOCs and their service areas may be found on the Web at http://www.hud.gov/offices/hsg/sfh/hoc/hsghocs.cfm. Management and Marketing (M&M) contractors provide listings of properties available for purchase through the Teacher Next Door program on the web and are a source of information. Go to http://www.hud.gov/homes/index.cfm, and click on the state of your choice.
Headquarters Office: For policy questions not covered on the website, contact the Asset Management and Disposition Division in Washington, DC. by e-mail to email@example.com, by mail to: 451 7th Street SW, Washington, DC 20410, or by telephone to (202) 708-1672 (this is not a toll free number).
Web Site Address http://www.hud.gov/offices/hsg/sfh/reo/tnd/tnd.cfm