$1 HUD Home Success Story For One Ohio City

In Cheviot, Ohio, The Community Press reports on a home the city acquired from HUD and recently rehabbed:

• The vacant house was the first property the city bought through the $1 home program. Cheviot officials voted to buy the home, which sat in foreclosure for more than six months and was passed up twice at auction, from the Department of Housing and Urban Development for $1 in October. Now the city is ready to sell 3939 Davis to an owner-occupant who wants to call Cheviot home for at least five years.

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• [Cheviot Safety Service Director Steve Neal] said Cheviot Savings Bank donated $10,000 from its charitable foundation and gave the city an interest-free $20,000 loan for the renovations. And local plumber Joe Hill did all the plumbing work free of charge. "Without their help none of this would be possible," Neal said. [...] The home is listed at $72,900. He said the city will use the money they make from this house to fund improvements at two other $1 homes the city has since purchased. [...] "We need to protect our housing stock. I don't want people to think Cheviot is a bad community, because it's not."

For the story, see City ready to sell $1 home.

See also, Detroit Free Press: Race heats up for $1 homes (Both county, cities want property).

For HUD's recent suspension of their $1 Home Program, see HUD Stops Sale Of $1 Foreclosed Homes In Ohio, Michigan.