The city of Fort Wayne in an effort to reduce the number of foreclosures and vacant homes has taken a proactive measure to rehabilitate these properties before they become part of blighted areas.
The city has set aside money from the federal stimulus package to incentivise investment within the city limits where foreclosure action is most prominate. Basically one can find a foreclosure in the target area, get qualified for either the lower of after improvements appraised value or actual improved cost, have a city approved developer (see list) come up with an improvement plan that is designed by you and the developer that will purchase the home, then rehab the home to your specifications (within reason, items considered to be luxury items will not be approved....do you really need a gold plated bidet?)
Then to top it all off the city is now matching down payment money up to $15,000.....yeah that's right, $15,000...you could put up to $15000 down and have it matched dollar for dollar by the city. Don't just take my word for it, check out the city's NSP program website for more information.
Interested but not sure where to start? Look at the before and after pictures below from one of the developers model home in the program and you'll get a pretty good idea of what's possible
If you enjoy all the features of city living, but desire the amenities that new construction offers, then this is a program for you. For more information or to set up an appointment to see a qualifying property call me, Brian Kuhns at (260) 438-6289 and I'd be more than happy to assist you in finding a house that you soon could be calling home