2 votes

"Denver Launches Homeowner Assistance Program" - what crash in 08'?.

Right back where we started, as though 08'-09' never happened. Any other cities pulling this stunt again ??!!! http://alturl.com/p97xj

Dever Business Journal:

The City and County of Denver and the Metro Mayors Caucus announced Tuesday a funding initiative to help spur metro Denver homeownership.
The program, dubbed Metro Mortgage Assistance Plus Program, allows approved applicants to receive a 4 percent grant for a down payment and closing costs.

The homeowner doesn’t have to repay the grant and the program offers “a competitive interest rate on 30-year mortgages,” according to a press release.

“There is no better way to help rebuild our local economy and expand the strength and vitality of our neighborhoods than to open the doors of home ownership to moderate and low-income buyers,” Denver Mayor Michael Hancock said in the release.

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Well, It looks like Colorado

Well, It looks like Colorado has 'a lot' of things going for it right now. Can't wait to move to this utopia once it is up and running.

Southern Agrarian

"homeowner doesn’t have to repay"

This is going to make housing less affordable for low income citizens.

Builders are going to buy sh*tty houses in sh*tty neighborhoods, add paint, carpet and grass seed, plant a for sale sign and drive the market up. Who cares, "it free".

Next to make a comeback - the "NINJA Loan"

No income
No job
No assets

Approved, party like its 2006 !

"One resists the invasion of armies; one does not resist the invasion of ideas" Victor Hugo