Neighborhood Stabilization Program Homes
Open Enrollment and Information Seminar
Tuesday, December 22, 2009
6pm to 7:30pm
Oak Park Community Center, Room 1
Interested in one of the foreclosed homes the City of Oak Park has acquired through the Neighborhood Stabilization Program?
The City of Oak Park has awarded a contract to Home Renewal Systems, LLC to provide marketing and sales services for the City's Neighborhood Stabilization Program. Home Renewal Systems will accept applications from interested home buyers and assist buyers in the selection and purchase of fully rehabilitated homes in the Neighborhood Stabilization Program.
The goals of the Housing and Economic Recovery Act of 2008 are to diminish housing vacancy rates, reverse the decline of neighborhood housing values, enhance the stability of neighborhoods, and reduce blighted housing stock in neighborhoods hardest hit by abandonment.
Home Renewal Systems will work with the City of Oak Park to offer 20 to 25 homes to qualified buyers as renovations are completed.
The program provides opportunities for qualified individuals and families with incomes below established limits to purchase a home. The income limits are determined based on the number of persons in the household.
For example, one person and four person households would need to meet the following income limits:
1 person household - must be below $58,700 and a percentage of homes are specifically designated for those below $24,450 ($470 wkly / $11.75 hrly)
4 person household - must be below $83,900 and a percentage of homes are specifically designated for those below $34,950 (($672 wkly / $16.80 hrly)
Interested buyers can call Shannon Morgan at 866-996-9754 or register on line at www.homerenewalmi.com
Home Renewal Systems will hold an informational seminar for interested buyers as follows:
Tuesday, December 22, 2009
6pm to 7:30pm
Oak Park Community Center - Room 1
14300 Oak Park Blvd
Oak Park MI 48237
|
