Program supports NSP program by providing discounted purchase opportunities and up to 22 percent in down-payment assistance for eligible buyers who have completed homebuyer education.
The numbers of homeowners who owe more on their homes than they are worth decreased during the second quarter; however, home provides are also dropping.
Enhancements to the Making Home Affordable program will help borrowers maintain homeownership if they are current on their loans but have mortgage amounts higher than the home’s market value.
Empty homes resulting from the overbuilding that took place over the past few years have become affordable rental opportunities for lower income families as landlords look to serve federal rental assistance program Section 8.
“Affordable Advantage” program (initiated by the National Council on State Housing Agencies and Fannie Mae) is now available in Massachusetts, Wisconsin and Idaho and enables eligible buyers to purchase a home with low down payments and 100 percent financing.