The city of Hagerstown has (I will soon say had) a wonderful grant program available to first time home buyers that bought in the revitalization area of Hagerstown. The Hagerstown Home Store would give the buyer $3,500 after completing a two hour workshop and one hour counseling session about home buying. Then, the state of MD would match this grant for a total of $$7,000. Now add that to the $2,500 that the state of MD gives every first time buyer and we were able to give these buyers $9,500 for down payment/closing cost assistance!!! (I have one of these loans under contract right now - they are wonderful!!!)
Guess what, WE ONLY HAVE THE MONEY FOR 2 MORE LOANS THEN IT'S GONE AND THE CITY IS NOT RENEWING THE FUNDING!! RIDICULOUS.
WE ALL NEED TO CLICK THIS LINK BELOW AND TAKE ONE MINUTE TO FILL IN YOUR INFO.
THE LETTER IS ALREADY DRAFTED. IT WILL BE SENT TO ALL THE CITY COUNCIL MEMBERS TO SAVE THE GRANT MONEY FOR FIRST TIME HOME BUYERS. Here's what it looks like:
----THIS LETTER WILL BE SENT IN YOUR NAME----
Dear [decision maker name automatically inserted here],
I understand that the City has eliminated funding in Fiscal Year2009 for a key program that helps first-time home buyers while adding to Hagerstown's revitalization efforts. Last year, the City utilized CDBG funds to provide $3,500 in down payment assistance to 17 first time home buyers in Hagerstown's revitalization area. This money was matched by grants from the state of Maryland and leveraged additional state funds as well. The money from the City must be repaid when the home is sold, transferred,or refinanced. This program benefits the entire community by bringing home buyers to downtown Hagerstown, as well as helping make housing more affordable for first time home buyers. Please restore CDBG funds to the down payment assistance program in Fiscal Year 2009.
Thank you for your consideration.
----END OF LETTER TO BE SENT----
AS HAGERSTOWN REALTORS, THIS MONEY IS IMPARATIVE TO OUR LISTINGS THAT ARE IN THE REVITALIZATION AREA OR TO OUR BUYERS THAT WILL QUALIFY FOR THIS MONEY.
FOR ALL OTHERS, YOU MAY KNOW SOMEONE, A FRIEND OR FAMILY MEMBER WHO COULD USE THIS MONEY, SO PLEASE HELP US NOT TO LOOSE IT.
IF WE DON"T DO SOMETHING THIS MONEY GOES AWAY - EACH BUYER LOOSES $7,000 TOTAL!
THANKS FOR YOUR HELP!!!