Recently, I found the Metro 1 Townhomes in Phoenix located a bit North of the 19th Avenue and Camelback light rail station. According to the Metro 1 Townhomes web site, their community is eligible for the “Your Way Home Arizona” financing assistance. Never heard of Your Way Home Arizona? The “Your Way Home Arizona” program has also been called “NSP” or the “Neighborhood Stabilization Program” which provides down payment assistance to qualified homebuyers purchasing an eligible foreclosed home in Arizona. Yes, they have a bunch of rules and yes, there are income, educational and other requirements for this program. For Your Way Home Arizona, the down payment assistance is only available for FORECLOSED homes.
From what I have been told, the program has been met with luke-warm response because of some of the restrictions. The fact that a home must meet certain criteria concerning it’s condition and value has kept some people from utilizing the program.
I took this short video while checking out one of the model homes at the Metro 1 Townhomes. ( They are also called Metro Manor ) Take a look, it might be a little different than what many people think of when they think of a foreclosed property…
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