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Fraud Plagues HUD REO Sales Program.(Department of Housing and Urban Development)(Brief Article)
The Department of Housing and Urban Development has suspended a program that encourages policemen and teachers to purchase foreclosed homes due to reports of fraud and mismanagement.
The suspension started April 1 and for the next 120 days HUD will not sell Federal Housing Administration foreclosed single family homes to policemen and teachers at 50% discounts.
HUD secretary Mel Martinez announced the 120-day suspension of the Officer Next Door/Teacher Next Door program to ...
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