Gilbert considers money for 1st-time home buyers

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November 12, 2007 - 10:49PM
Updated: November 13, 2007 - 5:30AM

Chris Markham, Tribune

The Gilbert Town Council will consider increasing the amount of money available to assist first-time home buyers.

Town staff have recommended the council approve a change order that will mean increasing funding for the home ownership assistance program by $12,082, adding to the current $234,536.

The council is set to vote on the matter at its regular meeting tonight. Gilbert’s program is administered through Maricopa County and provides financial and counseling assistance to low- and moderate-income people who want to buy their first house in the town.

The program provides a secured, no-interest loan that is later repaid when the home is sold or refinanced. The fund is generally sustained as past recipients repay the loans.

Last year, two past home buyers repaid their Gilbert loans. The program has already helped two Gilbert home buyers this fall and is expected to help another recipient within the next few weeks, according to a town staff report.

Applicants with children younger than 18 who complete the counseling portion of the program can receive up to $50,000 to help fill the gap between what they can afford and the actual home price.

All other households are eligible for up to $15,000 in assistance in the form of a no-interest, second mortgage that is due when the property is sold, refinanced or when the owner no longer lives in the home.

The council will meet at 7 p.m. at the Gilbert Municipal Center, 50 E. Civic Center Drive.

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This site does not necessarily agree with comments posted below. Responsibility lies solely with the comment author.

My comment disappeared! What's going on?

Todd Stallion

This is totally disgusting. Stealing money from one person to give to another to buy a house. Even if this wasn't morally offensive because it is theft, it is totaly counter productive since it will DRIVE THE PRICE OF HOUSING UP! Comment has been reviewed

November 12, 2007

Applicants

Please Town of Gilbert staff. Make sure that these applicants do no like pictures of women in Victoria Secret Lingerie and that they are adamantly opposed to removing 2 flyers a week from their front door. Also, if they are not one of them (you know what I mean).... and can provide their current ward membership card that would be great as well. Suggest removal of this comment

November 13, 2007

City budget demands ...

Don't worry Todd, Gilbert is going to get it all back and then some in property taxes on the subsidized property. The fact that Gilbert hardly has any business tax base is going to haunt them in the near future. This will mean higher property tax once again. And when future city finances need bolstered where else is there to go? Yep, the property owners. Gilbert resident's are on a tax elevator with no top floor! Suggest removal of this comment

November 13, 2007

TK214

Cities should not be in the business of loaning money to home buyers. Tactics like this keep home prices higher and generally serve only property owners who want to get rid of investment property. I'd like to know what are the foreclosure rates on these homes and the failure rates on the loans. My guess is that if these folks need assistance in purchasing a house from the City, they're probably on shaky financial legs to begin with. Suggest removal of this comment

November 13, 2007

Ellie

Why does everyone have to be so negative when the Gov't does something to help lower income people? Being lower income does not equate to being ghetto or lazy. With the price of housing shooting so high the middle class is coming closer and closer to being lower income - the so called working poor. My daughter is a single parent and she works full time while raising her 2 children. She has no child support as the childrens father passed away. She works hard and yet has to live in an apartment because she can't afford to buy a house. There are many other people just like her who would love to have a chance to be a homeowner if cities like Gilbert would give her a start. How come rich people cannot see the good that comes from people vbecoming proud homeowners. besides a sense of pride it also keeps renters out who many times don't care about taking care of someone elses property. Please try and see the positve possibilities. Suggest removal of this comment

November 13, 2007

brian

Todd,

As a tax payer in Gilbert, I don't think this is stealing in that I would volunarily comply with the program if it was not simplified into the tax structure. As a Christian I think it is important to feed the hungry and cloth the naked.

I also think it is good to allow poor mexicans to immigrate here. I just wish we would issue immigrant visas instead of forcing them to walk through the desert.

I also don't have a problem with my tax dollars being used to help them with health care and to make sure their kids don't starve. Suggest removal of this comment

November 13, 2007

Todd Stallion

"Why does everyone have to be so negative when the Gov't does something to help lower income people?"

Because this doesn't help anyone in the long run except the banks. Subsidizing this simply means the prices will rise.

" Being lower income does not equate to being ghetto or lazy."

This isn't for low income people.

" With the price of housing shooting so high the middle class is coming closer and closer to being lower income - the so called working poor."

So tax the middle class to help the middle class, take their money waste it in bureaucracy then hand it back to them and pat them on the head and act like you are helping?

" My daughter is a single parent"

So

" and she works full time while raising her 2 children. She has no child support as the childrens father passed away."

That's why I have insurance, million bucks is only the cost of a dinner out each week.

" She works hard and yet has to live in an apartment because she can't afford to buy a house. "

So what. In communist countries where the government also gave everyone equality, everyone but the party members lived in Apartments.

"There are many other people just like her who would love to have a chance to be a homeowner if cities like Gilbert would give her a start."

So what, I want things too, I don't rob my neighbors. Why don't YOU work an extra job and co-sign a loan.

"How come rich people cannot see the good that comes from people vbecoming proud homeowners."

Again this does not make housing less expensive, it merely add a subsidy which the market will adjust for and prices will rise, just like in all the other feel good handouts like Education where college loan subsidies have pushed the cost of college through the roof.

"besides a sense of pride it also keeps renters out who many times don't care about taking care of someone elses property. Please try and see the positve possibilities. "

Giving someone something they didn't earn does not give them a sense of pride, it makes them dependent on the government. Look at what has happened to Blacks since the 1960s. Comment has been reviewed

November 13, 2007

Todd Stallion

"As a tax payer in Gilbert, I don't think this is stealing in that I would volunarily comply with the program if it was not simplified into the tax structure."

So why haven't you already done so??

" As a Christian I think it is important to feed the hungry and cloth the naked."

Wow so people getting a subsidy to buy a $300,000 house are hungry and naked?

"I also think it is good to allow poor mexicans to immigrate here. I just wish we would issue immigrant visas instead of forcing them to walk through the desert."

You are dumb

"I also don't have a problem with my tax dollars being used to help them with health care and to make sure their kids don't starve"

I am guessing that no child has starved in the United States since the Donner Party in the 1800s Comment has been reviewed

November 13, 2007

brian

I am for helping any kid in this country too, no matter what his or her immigration status is.

"You are dumb "

come on Todd you can do better than that.

Like you, I think we need to secure the border, but I just think it would be alot easier if we allowed all those would be immigtrants to come on an immigant visa and not give them reaason to walk through the desert. I'm sure they don't want to walk through the desert, would you. Suggest removal of this comment