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

Keystone Home Loan Program For First Time Homebuyers in Pennsylvania
The Pennsylvania Housing Finance Agency, more commonly referred to as PHFA, is an independent agency that was established in the year 1972 in an effort to contribute to 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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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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First Time Homebuyer Programs in Connecticut
The Connecticut Housing Finance Authority, otherwise known as CHFA, is a self-supporting quasi-public housing agency operating within the State of Connecticut. The agency was established in the year 1969 in an effort to address the concerns regarding the lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

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California Housing Finance Agency
The California Housing Finance Agency, otherwise known as CalHFA, is an independent, self-supporting agency that was chartered to as the State's affordable housing bank to make low interest rate loans through the sale of tax-exempt bonds; with these bonds being repaid by revenues generated through mortgage loans, instead of taxpayer dollars.

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