Financial assistance through subsidized home loan programs is available in Chula Vista and both the city and county of San Diego. These specific loans are either "silent second" loans, zero interest loans, or low interst loans.
The caveat is that the homes must be bank-owned properties in communities or neighborhoods with large concentrations of foreclosures. The intent, of course, is to help areas that have been particularly hard hit by the real estate crisis.
More than $17 million in "neighborhood stabilization" funds is available to San Diego County courtesy of the Federal Department of Housing and Urban Development.
To qualify for these specific loans up to $70,000:
- you must not have owned a home in the past three years
- your annual income must not be more than 120 percent of the median income, currently $89,900 for a family of four, and
- down payments or three to five percent are required.
For more information, contact:
- Bonnie Petrach, County of San Diego, 858-694-4810, bonnie.petrach@sdcounty.ca.gov
- Vicki Monce, City of San Diego, 619-578-7491, vickim@sdhc.org
- Community HousingWorks, City of Chula Vista, 619-282-6647, www.chworks.org
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This week's posts (they'll open in a new window):
- Volunteer opportunities in East San Diego County - 5/24/09
- Recycling and cleanup set for May 30 in downtown El Cajon - 5/24/09
- Otay Water District votes against Level 2 drought alert - 5/24/09
- SST (Speechless Sunday with Text): Prejudice declined - 5/24/09
Last week's posts (they'll open in a new window):
- San Diego boat shows - 5/17/09
- Property assessment scams exposed - 5/17/09
- San Diego County real estate market for April 2009 - 5/17/09
- My view of real estate - 5/17/09
- SST (Speechless Sunday with Text): Daisy tree (really!) - 5/17/09
- Does the doggy (butt) come with it? - 5/15/09
- WWW (Wordless Wednesday with Words): Pictures of the different cat breeds - 5/13/09
- Renter, house sitter, and stager all rolled into one - 5/11/09
- Growth Leader, Week Four - 5/11/09
Previous week's posts (they'll open in a new window):
- The hobo and the cat - 5/9/09
- Say hello to Abby, my neighbor's three-legged dog - 5/9/09
- Volunteer opportunities with Lions, Tigers & Bears in Alpine, California - 5/9/09
- Volunteer opportunities with the Pacific Southwest Railway Musuem - 5/9/09
- Restaurant review: La Jolla Brew House - 5/9/09
- WWW (Wordless Wednesday with Words): Please take care of Old Glory - 5/6/09
- Upcoming garden tours in San Diego County - 5/5/09
- Balboa Park chooses waterwise landscaping - 5/5/09
- Wasteful water practices apparently end for CalTrans - 5/5/09
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Jim, This is great new for those first time home buyers in your area. This with the $8000 tax credit sounds like a WIN/WIN!!