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City Receives Grant to Help First-Time Home Buyers

$1 million grant awarded to city to bolster mortgage assistance program.

Here's an announcement provided by the City of Livermore:

The City of Livermore announces the availability of down payment assistance funds for low-income, first-time homebuyers through the City’s CalHome Mortgage Assistance Program. The City recently received a $1 million CalHome Program grant from the State of California Housing and Community Development Department (HCD) to fund the City’s Mortgage Assistance Program. The CalHome Program is funded by the State through Proposition 1C, the Housing and Emergency Shelter Trust Fund Act of 2006. 

The City has been the past recipient of CalHome funds and has assisted 25 households to achieve the dream of homeownership. The City’s CalHome Mortgage Assistance Program (MAP) will provide low interest deferred payment loans of up to $40,000 to low income, first-time homebuyers purchasing homes in Livermore. CalHome funds can be used towards down payment and closing costs.  Funds are immediately available for FY12/13. The application, qualifications and program guidelines are available on the City’s website at: www.cityoflivermore.net. Information can be also obtained from the City’s Housing and Human Services Division of the Community Development Department via email (housing@cityoflivermore.net) or phone (925-960-4580).

area man October 19, 2012 at 01:41 PM
This morning I am going to make myself some pancakes with some imitation maple syrup and butter on top. I am going to have a fried egg and two breakfast sausages with my pancakes and pour the imitation maple syrup over the egg, sausages, butter and pancakes. I am also going to have a glass of orange juice, a glass of milk and a cup of coffee. All this before I take my medication.
50 years here October 20, 2012 at 04:32 AM
I'm so glad our government is doing SOMETHING to help those in need. All the while ignoring the fact that your congressional leaders voted almost unanomously to repeal the law enacted after the great depression of 1929. In doing so, they allowed the banking industry to play high stakes gambling with your money, not theirs. the turmoil, lies, and cover-up that followed caused 1/3 of the value of each and every home in this country to be stolen from the homeowners. trillions of dollars, but where did it go? So they pass a few meaningless laws and hand out a few billion more to the banks that promise to make every effort to help mitigate the losses by "adjusting' the terms of the mortgages. I would like to hear from anyone who has successfully completed a motgage modification without the servicer taking yet a larger amount of the pie for themselves. And worst of all it is well known now that your elected officials are 100% responsible for you being ripped off. And what are they doing about it? NOTHING! among the big five is yet another INDYMAC BANK / ONE WEST BANK knowingly lies about their clients payment history to cause all kinds of extra fees and charges. I have called everyone you can name for some regulation and the cowards whom are paid with your tax dollars won't even lift a finger to insure compliance with the law! Now their giving away grant money. Amazing. Wouldn't it be better to just have them uphold the law?
TrueRealist October 22, 2012 at 10:20 PM
Why should the government step in and help first time home buyers? People who can't afford a house making a purchase that was over their means is what cause the Real Estate bubble to begin with. Instead of qualified buyers making purchases you had people making $50K with approvals for $700,000 houses. The government didn't sign the loan papers. The buyers did.

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