have had several people write me for info on how i am buying a home. here's what i've found out. the key to me finding out all this was not to take no for an answer! do persist and keep asking all kinds of questions. these programs are all very new and only the ONE person doing it knows about it....typical gov't!
it is not written but programs both federal and state.
mr. murray told me about this site which is awesome and links to many
other very valuable sites: www.manhousingfoundation.org and
www.consumerunion.org is produced by consumer reports but is just
about manufactured housing.
section 8 homeownership program: the section 8 voucher is to help with
rent. it is now, in some states, to be used to purchase a home. you can
find info on this and contacts in your area by going to www.hud.gov. it
is on their home page. it is very new and you will get a lot of no and i
don't know but persist!! your county social services office
should be able to tell you who to contact to apply for section8 rental
assistance.
go to the website for your state and find the board of housing (might be
board of housing and finance). search for section8. contact the head
person. ask all kinds of annoying questions!!! grin. montana has a board
of housing. within that board of housing there are several types of
programs to help people buy homes. every state is required to do the same.
the GRAND news is that most every state will be up and running with section
8 homeownership about this time next year...that means, if you qualify for
section 8 rental assistance, are on it a year without violation, you can move
that subisdy ANYWHERE in the nation you want, turn it into a mortgage
payment and buy a home!! woweee...
go to www.usda.gov. then search for rural development. then search for a
contact in your area. ask them to direct you to the person who handles rural
development loans. if you qualify, you can get as low as 1% 30yr fixed (!).
contact your real estate board president in your area and ask if they
have scholarships to which you can apply for assistance in buying your
home (usually for rural areas)....no kidding.
look for homes that are fsbo (sites on net) and foreclosed (sites on
net). hud will also have maps of areas that have special funding for
homebuyers as they are needing people to move back into these areas.
also, on the hud site, there will be foreclosed homes for sale from
many fed agencies. if you or your marriage partner are either fulltime
law enforcement or public teaching, there are special incentive programs
for you which are on the hud site also (you might be able to buy a
foreclosed home for 1/2 its appraised value!).
if you have bad credit because of poor choices, things will be very
difficult but don't give up!! commit to developing absolutely pristine
credit and keeping it. utilities, insurance, take a very small loan from
your local bank. keep all these in a-1 condition. it will take at least 2 years but 3
years can mean a drastic drop in interest rates (as in rural development)
before fed/state programs will allow you to apply.
that's what i've done. my credit was ruined by injury and resulting illness
and a ch7 and being unable to work puts me below poverty.
there's still hope for me and you too.
keep trying!!
if you need more info or encouragement, please don't hesitate to contact me.
sabrina-the housing pit bull....grins
[email protected]