Robert Costanzo has a big plan for his charity: purchase HUD foreclosure homes and create safe housing for low-income residents. TimesLedger.com reports:
“His nonprofit group, Be Safe At Home, focuses on providing seniors in the tri-state area with handymen, home maintenance and shopping services so they can continue living in their homes.
But Costanzo hopes soon to start buying foreclosed homes and turning them into affordable housing for seniors.
By converting residences purchased through the HUD foreclosure program, Costanzo said he will be able to provide housing and services for seniors at a lower cost than nursing homes or Section 8 housing assistance.”
Although anyone can bid on HUD foreclosure homes (regardless of income), many charities are finding that these auctions can save them a substantial amount of money.