Brad Garbutt

REALTOR®, Associate Broker

Since 1983, I have helped thousands of families and individuals buy and sell homes in Redding/Shasta County. The only thing that exceeds my experience is my commitment to you because whether you're buying or selling a home, your satisfaction is my number one goal. My commitment to you includes implementing the latest real estate technology and resources to effectively market and sell your property. When you're ready to buy or sell a home and you want exceptional service, call me!

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Local Housing Agencies Launch Foreclosure Assistance Program

HOME LOANS, LOCAL GOVERNMENT, SHASTA COUNTY, TIPS FOR BUYERS
January 20th, 2010

IMG_2691-1Shasta County, along with the cities of Redding, Anderson and Shasta Lake have landed a grant of $1 million to assist home buyers wishing to purchase a foreclosed home in designated neighborhoods. Most of Shasta Lake is eligible for the program as well as Anderson Heights and Ravenwood subdivisions in Anderson. The program has been dubbed C4-HAP.  Interested home buyers should contact the Shasta County Department of Housing and Community Action at 1450 Court Street Suite 108 Monday through Friday from 8 a.m to 1 p.m. to add your name to the waiting list for loan applications.

Here are some important points:

  • The program is only available until June 2010
  • Purchase price is limited to $190,000 or less
  • The assistance is a forgivable 0% interest silent second loan
  • The loan is forgiven after 5 years
  • Household income limits apply depending on household size
  • Do not need to be a first-time home buyer, but you can’t presently own a home
  • Property must be located in specific census tracts to qualify
  • Buyer must occupy home as primary residence after purchase
  • The average loan amount is expected to be $45,000
  • Once the money is used up, there will be no additional funding

A single homebuyer can’t make more than $3,910/month. A family of 8 can make up to $7,370/month. The money allocated to this program will help roughly two dozen home buyers.

For more details, contact the following:

  • Jodi White at City of Redding-225-4173
  • Jessaca Lugo or Loree Byzick at City of Shasta Lake-275-7464 or 275-7463
  • Torri Glasgow at City of Anderson-245-6431

The goal of the program is to help homebuyers purchase distressed properties which in turn helps prevent neighborhoods from blight caused by neglected vacant homes.

bradgreps@yahoo.com

530-224-6767 or 530-941-7492

BRAD GARBUTT

REALTOR/BROKER ASSOCIATE

REAL ESTATE PROFESSIONALS REAL LIVING

CORNER OF COURT AND PLACER IN REDDING

MORE THAN A QUARTER CENTURY LOCAL REAL ESTATE SALES EXPERIENCE

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This entry was posted on Wednesday, January 20th, 2010 at 11:16 am and is filed under HOME LOANS, LOCAL GOVERNMENT, SHASTA COUNTY, TIPS FOR BUYERS. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  1. Stop Foreclosure today said at February 20th, 2010 at 2:12 am

    Some good information, glad I found this blog

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