The HUD (Housing and Urban Development) officer next door program (also available for firefighters and emergency medical technicians) was designed to revitalize neighborhoods in low and moderate income areas. Any officer, firefighter or emergency medical technician who qualifies can bid on a specific HUD home. The bidder must live in the home for three years. After the three year term, half of the mortgage will be forgiven. If the home is $100,000 the bidder will pay $50,000!

The only catch is that only certain homes are available for this program. Then the bids are put into a blind lottery. This means that you do not have the opportunity to out-bid others, you just have to get lucky. There are periods of time where there are no homes listed, so if you are looking to get into a home quickly, this program might not be right for you.

The houses have been foreclosed, so some of them need a lot of work. They are only in revitalization areas, but there are revitalization areas all over the city.

I have had good experiences with the teacher next door program. At Armstrong Properties, we are HUD certified, so we are able to help you purchase a TND home in Albuquerque and the surrounding areas.