KTLA News
March 17, 2009
RIVERSIDE — The Riverside County Board of Supervisors is expected Tuesday to approve using part of a $48.5 million federal grant for a county program that provides downpayment assistance to first-time homebuyers trying to purchase foreclosed properties.
Under the Neighborhood Stabilization Homeownership Program, $9.7 million would be set aside to help qualifying low- and moderate-income residents purchase vacant foreclosed homes in 15 cities and 9 unincorporated communities in Riverside County.
The requirements for homebuyer assistance are:
— An applicant cannot have owned a home in the last three years;
— A successful applicants must complete an 8-hour course on the essentials of homeownership and the responsibilities of homebuyers;
— the applicant’s gross household income cannot exceed 120 percent of the county’s median income, which for a family of four would be $79,900;
— the applicant must be purchasing a foreclosed or abandoned home in the county;
— the purchase price cannot exceed $293,000.
Riverside County has the fourth-highest foreclosure rate in the state.
—-
For more information call me today at (951) 532-1943.
Choosing the right agency and agent to sell your home is the first and most important step in getting your property sold. Some sellers do not realize that not all agents are alike that is why we go the extra mile to get your property sold, fast and for top dollars.