Baltimore City Program Wants To Help Potential Homeowners

BALTIMORE (WJZ) — For some people, buying a home can be a scary time, but one city program is opening the door for potential homeowners.

And as Gigi Barnett explains, organizers have millions in federal grant money to help.

“I want to be in the new home by January,” said first-time homebuyer Marian Harvin.

Harvin knows what she wants.

“One of those tall rowhouses that are structurally sound so I can do whatever I want to it. Four bedrooms, two to three bathrooms,” Harvin said.

This may be the place to find the one that fits. It’s a weekend seminar hosted by the Healthy Neighborhoods group. It just received a $26 million grant from the federal government to move new buyers into seven city neighborhoods.

“These are stimulus dollars to help find a bottom to the market so housing values can stop falling and start growing,” said Rahn Barnes, Direct Purchase Program Manager.

Under the federal grant, the houses must be former foreclosures, abandoned or short sales homes.

“It’s iffy but I see it as an opportunity. A lot of these neighborhoods are up and coming and I’m a young professional and I want to jump on it while it’s developing,” Harvin said.

About 100 homes are on the market through the program.

The program also offers closing cost help or money to renovate a foreclosed property.

Comments

One Comment

  1. Jerry says:

    Move them into nice neighborhoods and watch the neighborhood crime and drug dealing rise more then 50% of the time. My block was a nice area but now all you see is trash in the streets and the yards thrown by black students and rocks thrown by the same, Drug dealing went up and all you hear is f this f that , dirt bikes up and down the street and the music from the cars so loud that you feel the vibrations in the house and hear the radios a block away. Good bye nice neighborhoods.

  2. Jerry says:

    I witnessed this my self.

  3. A CONCERNED MARYLANDER says:

    HOW MANY PEOPLE REALIZE THAT THE GOVERNMENT IS SPENDING $260,OOO PER HOUSE. THIS IS WHAT GOT US IN THIS MESS. I HAVE NOT HEARD ONE POLIITICIAN SPEAK OUT AGAINST THIS THEFT OF THE TAXPAYERS MONEY.
    THE GOVERNMENT WOULD BE BETTER OFF BUYING THESE HOMES AND SELLING FOR $1. THE BUYER WOULD HAVE TO AGREE TO FIX UP THE WITHIN A CERTAIN AMOUNT OT TIME OR THE GOVERNMENT GETS THE HOUSE BACK.
    PEOPLE WANTING TO BY THE HOMES WOULD PUT THERE NAMES IN A LOTTERY TO BE DRAWN ON A SPECIFIED DATE.
    THE FINANCIAL INSTITUTION MAKING WOULD MAKE PAYMENTS TO THE COSTRUCTION COMPANY. THIS WOULD PREVENT THE SCAMMERS FROM RIPPING OFF PEOPLE. THE MOST THAT THE BANK,ETC.,COULD PAY OUT WOULD BE 25% AT A TIME. THIS WILL ASSURE THAT THE BUILDER WILL BE AROUND TO COLLECT THEIR PAYMENT.
    THE BUYER MUST AGREE TO LIVE THEIR FOR AT LEAST 5 YEARS.
    TO HELP THE LOW INCOME HAVE A BETTER CHANCE IT LOTTERY CAN BE SET UP LIKE THIS:
    A FAMILY INCOME OF $25,000 OR LESS WOULD GET 5 ENTRIES
    A FAMILY INCOME OF $25,001-$35,000 WOULD GET 4 ENTRIES
    A FAMILY INCOME OF $35,001-$45,000 WOULD GET 3 ENTRIES.
    A FAMILY INCOME OF $45,001-$55,000 WOULD GET 2 ENTRIES
    A FAMILY INCOME OF $55,001 AND UP WOULD GET 1 ENTRY.
    ALL LOANS MUST BE AT A PERMANENT RATE,NO ARMS..
    THE PROPERTY CANNOT BE TURNED INTO A RENTAL. HOMEOWNERS ARE MORE LIKELY TO MAINTAIN THEIR HOME.
    THE SUCESSFUL OWNER AGREES TO SIGN OVER A RELEASE SO THERE INCOME CAN BE VERIFIED WITH THE IRS.
    BIDDERS MUST BE AMERICAN CITIZENS OR RESIDENTS ALIENS.
    LENDERS CAN REQUIRE PMI INSURANCE UNTIL THE DEBT OWED IS LESS THAN 70%.
    ANYBODY ACTING AS A FRONT FOR SOMEONE ELSE CAN BE FINED UP TO $50,000 BUT NO LESS THAN $20,000. WE HAVE TO START MAKING THE PUNISHMENT HARSH. I SAW ON CHANNEL 11 THAT OUR CITY COUNCIL PRESIDENT GOT A HOUSE UNDER QUESTIONABLE WAYS.
    JUST THINK HOW MANY MORE HOMES THAT CAN BE BOUGHT AND SOLD.SINCE THE AGENCY WOULD BE FINDING THE BUYERS THE REAL ESTATE AGENT OR BROKER AGREES TO A COMMISSION OF 3%. IF THE HOME IS ALREADY OWNED BY THE GOVERNMENT NO COMMISSION WILL BE PAYED. THE SOONER WE CAN GET THESE VACANT PROPERTIES SOLD THE SOONER WE CAN REBUILD THE CONSTRUCTION INDUSTRY AND THE ECONOMY WILL START TO EXPAND.

  4. A CONCERNED MARYLANDER says:

    I’M SORRY I DIDN’T PROOF READ BEFORE SENDING.THE ABOVE LETTER. THERE ARE A COUPLE OF SPELLING ERRORS.
    ALSO THE ABOVE SHOULD HAVE READ: THE LENDER DAN REQUIRE PMI INSURANCE UNTIL THE LOAN TO VALUE IS 70% OR OF THE PROPERTY.

  5. Ballsohardclub says:

    Concerned, You neglected to mention that one owner can purchase but never mention to say five families will live in the house. That is what destroys these neighborhoods. Oh, also the boyfriend of the month , a convicted felon adds to the blight when he brings his homies around.

  6. whatnow says:

    This is exactly the policy that Bill Clinton put into place that caused the housing bubble that burst and ruined the economy. No one helped me get in my house. My house is underwater but there is no government help for me because I don’t meet the right “criteria” yet I live on a secretary’s salary. Quit with the handouts. After 50 years, haven’t you realized it doesn’t work and hurts the people who do work!!!!

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