Department of Housing and Urban Development's Dollar Homes Program
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In addition, the Dollar Homes Program is also designed to enable communities to make good use of vacant homes that have remained on the market for six months, and at the same time it seeks to make the newly occupied homes act as instruments towards neighborhood revitalization, for the reason that it could attract new residents and new business establishments to the area.

Since HUD is partnering with local governments for the Dollar Homes Program, the agency also requires that the properties be located within the jurisdiction of the purchasing local government, granted that their intentions are limited to using the properties for a clear public purpose instead of using it to acquire profit.

Local governments will be considered eligible to participate in the Dollar Homes Program as long as they are authorized by their local law to make the purchase, and as long as they intend to make this houses available for low-to-moderate income families, as implied by the Dollar Homes Program.

The Department of Housing and Urban Development, the primary agency who established the Dollar Homes Program, is the US government's premiere agency that is primarily responsible for increasing home-ownership rates, providing support to community development projects and increasing access to affordable housing opportunities.

In the fiscal year 2007, the Department of Housing and Urban Development estimates that at least 70 homes were sold for $1 under the Dollar Homes Program.

Department of Housing and Urban Development's Dollar Homes Program
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About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on environmental grants and grants for youth programs.

Additional Resources

category - Home Buying Programs

Alabama Housing Finance Authority
The Alabama Housing Finance Authority, more commonly referred to as AHFA, is a public corporation which was established in the year 1980 under the Act No. 80-585 of the Alabama Legislature.

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Section 8 Housing Choice Voucher Homeownership Program
The Connecticut Housing Finance Agency has been administering the Section 8 Housing Choice Voucher Homeownership Program wherein they intend to offer home loans at reasonable, below-market rates to Section 8 tenants who wish to purchase a home of their own.

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Keystone Home Loan PLUS Program
The Pennsylvania Housing Finance Agency, otherwise termed as PHFA, is an independent agency established in year 1972 in an attempt to assist the provision of reasonable and affordable housing opportunities the elderly, persons and families of modest means, and people suffering from disabilities.

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