Anyone interested in buying a home under the federal Neighborhood Stabilization Program in Mesa can now register with the city for grants. Mesa is one of many communities nationwide that received a grant to rehabilitate, resell or redevelop foreclosed homes in an effort to prevent neighborhoods from declining. Mesa's share was $9.6 million. The city chose to target homes in the 85204 ZIP code, bounded by Mesa Drive, Val Vista Drive, Main Street and Baseline Road, which had a high foreclosure rate.
According to a city report, eligible homeowners must complete eight hours of home-buying counseling, provide a minimum of 1 percent of the purchase price for a down payment and secure a 30-year fixed rate amortizing loan from a lender. They must also agree to live in the home for at least five years. A family of four must have a maximum annual income of $79,100 to be eligible for the program.
To download the application form, visit http://www.mesaaz.gov/neighsvc/NSP_Updates.aspx. For more information, contact Ray Thimesch at (480) 644-4521 or Mesa Housing and Revitalization Management Assistant Lisa Karpowicz at (480) 644-5288.