Growth and development in Chicago’s suburbs and exurbs has stalled since the housing downturn. According to Census Bureau, Chicago’s surrounding areas were some of the fastest growing in the country until 2009/2010, and after which they’ve claimed the title of holding Illinois’ top foreclosure rates. Many of Chicago’s far-flung housing developments were the hardest hit by the
-> Continue reading Chicago Exurbs See a Bust After a Long Boom
Census data has revealed that the deep recession, plunging property values, and rising foreclosures have combined to intensify the rising vacancy rate in west Michigan. Although plagued by property vacancies, west Michigan cities utilize many approaches to encourage homeownership in the area: The cities of Grand Rapids and of Wyoming and Kent county received $11 million
-> Continue reading West Michigan Cities Work to Restore Homeownership
The City of Baltimore and participating employers have partnered to encourage homeownership near areas of employment. Employees of the participating employers are eligible for the benefits of this program, which are as follows: $2,000 minimum grant or conditional grant ($1,000 from the employer, and $1,000 from the City of Blacksburg) for the down payment and
-> Continue reading Baltimore City Live Near Your Work
Baltimore’s Office of Homeownership established the First Time Homebuyer Program. The program aims to aid first time homeowners by providing qualified individuals with $5,000 toward down payment and settlement expenses structured as a 5-year loan forgivable 20 percent per year. Those who are eligible are identified as “first-time homebuyers with a counseling certificate from a
-> Continue reading Baltimore – Community Development Block Grant Program’s First Time Homebuyer Program
In Jackson, Mississippi, BancorpSouth and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded the Voice of Calvary Ministries, Inc. (VOCM) with a $280,000 grant to further empower the VOCM’s Dream Builders Program. The grant will help the Dream Builders Program rehabilitate 28 foreclosed or vacant homes and resell them to income-qualified homebuyers. Low-
-> Continue reading Affordable Housing Program Grant Awarded to Residential Rehabilitation Efforts