HUD Homes Articles | Bizjournals.com, NC - Sep 3, 2008
First-time home buyers in Alameda County now have access to a special California Housing Finance Agency program designed to help them purchase homes in communities hit hardest by foreclosures.
Under the $200 million program, first-time buyers are eligible for below-market, fixed-rate loans to purchase foreclosed homes in ZIP codes with some of the state’s highest foreclosure rates. Several lenders have agreed to participate by offering prices at least 12 percent below the estimated value on their foreclosed properties in the designated areas.
Gov. Schwarzenegger announced the Community Stabilization Home Loan Program, funded by tax-exempt bonds, last month. It recently was expanded to Alameda County.
Read the full CalHFA expands help to first-time buyers in Alameda County … - Bizjournals.com story
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