Reporting Gigi Barnett
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.