First, if granted the home, the new owners have to correct any exterior code violations within 180 days, then bring the home up to habitable standards within a year. Then, they must live in the home for five years before it is fully signed over to the new owners. They also must have an income of at least $38,750 per individual and proof of sufficient income to complete repairs that can include unused credit card limits, a gift letter or a bank statement.
Applicants will submit a $25 fee with each application and if approved, provide a credit report.
For more information and a list of houses available, click here.