Dear Salem and Keizer Residents;
In July 2008, President Bush signed into law the Housing and Economic Recovery Act of 2008 (HERA). This legislation includes $4 billion of grant funds for the Emergency Assistance for the Redevelopment of Abandoned and Foreclosed Homes program. Under the HERA, the US Department of Housing and Urban Development (HUD) has allocated $19.6 million in grant funds to the State of Oregon. Oregon Housing and Community Services (OHCS) have allocated $845,564 to the City of Salem and Keizer to provide down payment assistance and potential rehabilitation for families with 120% or less median family income for Salem and Keizer. This figure is up from what they allowed previously!
These funds can only be used for bank owned properties and properties within designated census tract areas. (There are plenty to choose from!) Additional information can be found on the city of Salem website at www.CityOfSalem.net/NSP so read everything on their website before calling them. If you need help let me know. I am learning this information quickly and there are approved lenders to help you.
It is critical that you not get discouraged or disqualify yourself by not taking action. If you do nothing right now, you will still not own a home. If you call me or an approved lender who is educated with these stimulus funds you may get to own a home when you didn't think you could. We are here to help you!
My basic rule of thumb is that if you have a job and feel you can afford the monthly payment but do not have the down payment and closing costs, you are most likely a candidate. There are many programs out there right now to help people get into homes. I will post a separate blog for each program so they are easier to read and refer your friends to.
The first step is to read the websites I posted under "links" on my blog page. Second, email me and let me know that you are interested in the information so I know who you are. Third, schedule a free no obligation pre-qualifying appointment with one of the lenders listed.
There are links to each program you may be qualified for under my links tab on my blog page. So, grab a cup of tea, slip into your pajamas and start reading! This is well worth 15 minutes of your time. If it takes longer than that, schedule an appointment with one of my lenders. They can move you thru it quickly...
Enjoy!
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