[Code of Federal Regulations]
[Title 24, Volume 2]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR291.510]

[Page 504]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
 CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING 
        COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 291--DISPOSITION OF HUD-ACQUIRED SINGLE FAMILY PROPERTY--Table of Contents
 
               Subpart F--Officer Next Door Sales Program
 
Sec. 291.510  How does the Officer Next Door Sales Program work?

    (a) The Officer Next Door Sales Program enables a full-time law 
enforcement officer to purchase a HUD-acquired home located in a HUD-
designated Revitalization Area or HUD-approved exception area:
    (1) At a discount from the list price; and
    (2) With a reduced downpayment, if:
    (i) The home is eligible for an FHA-insured mortgage; and
    (ii) The law enforcement officer chooses to finance the home through 
an FHA-insured mortgage, and is qualified to obtain such a mortgage.
    (b) Under the Officer Next Door sales Program, all properties 
acquired by HUD (both those that are eligible for FHA mortgage insurance 
and those that are not eligible) located in HUD-designated 
Revitalization Areas are made available to interested law enforcement 
officers, government entities, and nonprofit organizations prior to 
listing the properties for sale to the general public. Purchasers must 
notify HUD of their geographic area of interest and will be given five 
(5) days to indicate their preliminary interest in a specific property 
as more fully explained in Sec. 291.210(a).