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In Mississippi, we have a program sponsored by the federal government to help stabilize neighborhoods that have been negatively impacted by the presence of foreclosures. This program is a one-time payment assistance grant for individuals buying foreclosed property. The total amount of assistance can reach up to $39999 based upon a person's credit score. The individuals have to qualify for the amount of the purchase price and the downpayment but if they are buying a HUD home their initial investment can be as little as $100 for the downpayment and their prepaids (taxes and homeowner's insurance policy) There are also income … (3 comments)
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