• Agency: U.S. Department of Housing and Urban Development (HUD)
• Status: Currently Available

Through the Asset Control Area (ACA) program, HUD-owned single family properties located in a Revitalization Area are eligible for discounted sale. Foreclosed properties conveyed back to the Federal Housing Administration (FHA) that are located in a designated ACA within a Revitalization Area are first offered for sale to an ACA participant. ACA participants are state, county and local units of government, as well as approved nonprofit organizations, which have entered into a two-year contract with FHA. This agreement requires HUD to first make FHA properties located in an ACA exclusively available for sale to the ACA participant. Each ACA participant establishes criteria for homebuyers to qualify that are approved by FHA. Properties are repaired and resold to families by the ACA participant at below-market prices. ACA properties with an appraised value of $25,000 or less may be purchased for $100; all other properties sold under the ACA Program are offered for sale at a minimum discount of 50 percent of the appraised property value.