Regards, Tom 817-690-9296
Gloria is absolutely spot-on in what's happening with the Ft. Worth Neighborhood Stabilization Program. Keep in mind that this program requires processing time. The closings I've experienced with this program has been 60-90 days from executed contract to closing day. If the buyer cannot wait, I suggest getting a local lender in Fort Worth (Paul Duncan at WR Starkey is an excellent choice) to review a mortgage credit certificate and other mortgage programs as alternatives. These are programs with guidelines. The buyer has to fit the requirements. A qualified loan officer like Paul can help fit buyers into the right program. See the website below.
City does place a lien on the property.
Restrictions do apply based on area and zip codes.
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair
The Michael Group - Dallas Business Journal Top Ranked Realtors
This is the time to buy a house, so don't wait. Good House Hunting!
As Kent Dills explained, there is a website that goes into more detail on this program- BUT don't feel like you have to sort through all of this yourself. It can seem or feel overwhelming. There are lenders who can walk you through this lending and loan program step-by-step and hold your hand (so to speak). I have a lender doing this EXACT program with two of my clients/buyers right now. She's amazing: DeAnna Morgan with Cendera Funding. I'm hopeful this is helpful. Try her, its worth at least a conversation. You're not obligated to use her if you do not prefer, but she is incredibly helpful and patient and experienced with this program.
DeAnna Morgan, Cendera Funding
308 E. Renfro #206
Burleson, TX 76028
Let's try this again, looks like my first post/answer didn't take.
The program should still be active through November 2010. It is restricted to the following zip codes:
Income restriction apply and only certain lenders have been approved to do the loans. If you call me tomorrow at 817-495-8028 I'd be more than happy to help you navigate the program and process.
Kent Dills, The Michael Group - Hurst, TX
To the best of my knowledge, the program is running through November of 2010.
FYI: The program is limited to purchasing homes in the following zip codes:
Income limites apply to buyers, and only particular lenders can participate. If you'd like to know more, please call me tomorrow at 817-495-8028 and I'd be more than happy to guide you through the program requirements. Kent Dills, Broker Associate, The Michael Group - Hurst, TX.