"Living in the Real World" ~ Lola's Log

Pasco County Homebuyers Rejoice!  The long-awaited funding of the Pasco County Neighborhood Stabilization homebuyer assistance program has happened--so you'd better get in while the gettin's good!  For those who are not yet in 'the know'--Pasco County received one of the largest endowments for community redevelopment and stabilization, due to the Gi-normous amount of foreclosures in the county in the past couple of years.  These funds are already at work on a number of homes purchased by Pasco County as rehabbed and affordable homes, and now the program which allows buyers to access up to $20,000 in interest-free assistance is available as well.

Take note--this is a program for those wishing to purchase homes to live in, not as investment:

"Congress passed legislation in the summer of 2008 providing funds to local governments to help homebuyers purchase foreclosed and abandoned homes in order to stabilize neighborhoods across the country. Pasco County is using these funds to assist homebuyers with their downpayment, closing costs, and rehabilitation so they can get into a safe, decent and standard home. This is a program for homebuyers, not investors. We want more homeowners in Pasco County."

Some details of the program:

⌂       Maximum sales Price: $240,000

⌂       For Purchase of Foreclosed or Abandoned homes* only

⌂       Sales Price must be 85% of appraised value

⌂       Borrowers do not have to be 1^st time homebuyers**

⌂       Family Income limits apply

⌂       Essential Service workers can receive $10k more assistance

⌂       Low Income can receive up to 50% of sales price

⌂       Homebuyer must attend Homebuyer Ed class Prior to contract

⌂       Max County Loan cannot exceed 50% of appraised value

⌂       Minimum Investment*** from borrower $500 - $1,250

⌂       County Loan Interest Rate is 0%

⌂       Payments required are determined by Debt-to-Income Ratios

⌂       Recapture Affordability Provisions****

⌂       POP agencies buy foreclosed/abandoned homes, repair them and make them available for sale to low and moderate/middle income families

 Email me at HelpSaveHomes@gmail.com for the full information on this program!

 You MUST work with an approved Realtor and lender who have taken the program's classes as well--so if you are interested in this program, and you are not working with a Realtor or lender already:

 FILL OUT THE:

EASY ONLINE FORM

Thanks for your interest, and best wishes in your home search.

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