Announced on June 30, 2011, Baltimore’s housing department will offer $10,000 to each of the first 50 buyers of vacant, rehabilitated homes. Homeowners qualify by purchasing a vacant home with a rehab loan such as a 203(k) or by finding a recently rehabbed home that the city considers a Vacants to Value property. The incentive money comes from unused bond funds intended for homeownership incentives, and individuals can combine this incentive with others like “Buying into Baltimore” and “Live Near Your Work”. The program launched on July 1, 2011.
The following guidelines specify which homes are eligible:
1. A city-owned vacant house sold since July 1, 2010 and rehabbed for homeownership
2. A city-cited property with a “vacant house” notice since July 1, 2010
3. Any property that has been vacant for a year, as long as the evidence of that — from the seller and/or buyer — is acceptable to the city
For the article, please visit: http://weblogs.baltimoresun.com/business/realestate/blog/2011/06/baltimore_offers_10000_incentive_to_buyers_of_formerly_vacan.html
To learn about the program “Buying into Baltimore,” please visit: http://www.baltimorehousing.org/homeownership_livenear
To learn more about “Live Near Your Work,” please visit: http://www.livebaltimore.com/events/BuyingIntoBaltimore/