Local non-profit Restored Homes is facilitating the acquisition and rehabilitation of REO homes with HPD oversight.  Restored Homes acquires and rehabilitates foreclosed homes and sells them at affordable prices to qualified homebuyers.  Homes will be available in the neighborhoods defined by the US Department of Housing and Urban Development (HUD) as the thirteen most affected by foreclosure activity, listed here:

1. Jamaica, Queens 
2. Bellerose/Rosedale, Queens 
3. North Shore, Staten Island 
4. Howard Beach/S. Ozone Park, Queens 
5. Kew Gardens/Woodhaven, Queens 
6. Rockaways, Queens 
7. South Shore, Staten Island 
8. Bedford Stuyvesant, Brooklyn 
9. Jackson Heights, Queens 
10. Williamsbridge/Baychester, Bronx 
11. East New York/Starrett City, Brooklyn 
12. Flatlands/Canarsie, Brooklyn 
13. Mid-Island, Staten Island

Approximately 100 homes will be acquired, rehabilitated, and resold as affordable housing to families earning up to 120% of Area Median Income (AMI).  More information on available REO homes can be found on Restored Homes’ REO website, by clicking here.

How to Determine Your Tenant's Household AMI and Maximum Rent for Initial and Renewal Leases (PDF)