HUD Announces National First Look Program for Foreclosures


The U.S. Department of Housing and Urban Development (HUD) has announced an “unprecedented” agreement with top lenders to offer selected state and local governments as well as nonprofits a “first look” at purchasing foreclosed homes before those properties are offered to private investors.

According to the HUD announcement, the National First Look Program is designed to give communities participating in HUD’s Neighborhood Stabilization Program an exclusive opportunity to purchase bank-owned properties so the homes can be rehabilitated to be resold or rented, or in some cases demolished.

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