Neighborhood Stabilization Program

Have you heard about the "Neighborhood Stabilization Program" coming soon for Bend Oregon Real Estate Buyers?

The Neighborhood Stabilization Program is bringing Federal money to Deschutes, Crook and Jefferson Counties to help reestablish neighborhoods hit hard by foreclosures. That definitely describes Deschutes County! This is Home Buying help! There is money available to residents who apply and qualify. To qualify, area applicants must earn less than $75,000 for a family of four. Families can apply for the funds and use them for a down payment on a bank-owned, foreclosed property. The down payment can be up to 20% of the purchase price of the home, with a maximum of $35,000.

So let's say you purchased a home for $175,000 in Bend and put $35,000 down. If taxes were around $2,400 and your insurance was about $600 per year, your mortgage payment could be around $1,000 per month. That could possibly be do-able for a family of four in that income level if they were not burdened with other debts.

"The availability of these dollars allows families to establish themselves as permanent members of our community," said Bend Affordable Housing Manager Jim Long. "This is going to help us get a lot of people into homes and also help us to clean up neighborhoods that are full of empty homes." said City Councilor Mark Capell. "It's going to be a very positive program for the community."

If you or someone you know might qualify for this program, give me a call. I'd be happy to help you find a great home and steer you in the right direction to apply for this terrific Home Buying help!

TERI GREEN
Bend Oregon Real Estate PLUS - Senior Real Estate Specialist
The Hasson Company
www.BendOregonRealEstatePLUS.com