City of LA receives Stimulus money to be given out to homebuyers soon

Attention First Time Homebuyers--New Program Available

Great news as there is a new down-payment assistance and rehabilitation funds available from the federal government (HUD) via the City of Los Angeles

Complete information is available at the City of LA Housing Dept website (LAHD) or on this link at http://lahd.lacity.org/nsp/PriorityFile.aspx?Type=93

This program is for homes in foreclosure within certain areas.  You can check if the property is within the map by searching on the LAHD website here http://lahd.lacity.org/nsp/.

Here is a link to the 2 page brochure summary http://lahd.lacity.org/nsp/PriorityFile.aspx?Type=94.

This program is a great program for homes which need repairs since they will provide upto $50,000 for approved repairs.  There are additional requirements such as 8 hour home buyer education course, HUD inspection, enviornmental report, and others.