Neighborhood Stabilization Program Unveils Latest Project in Fresno
FRESNO, Calif. (KFSN) -- The City of Fresno is celebrating the completion of a home reconstruction project which will give a low or middle-income family a new place to live.
Monday, a ceremony was held in the city's Lowell neighborhood at Franklin & Park Avenue. The Redevelopment Agency beautified this foreclosed home with federal money granted to Fresno County.
Through the neighborhood stabilization program, homes are fixed up then sold back to low or middle income families.
"This home is proof positive that our efforts in the Lowell neighborhood, the downtown area, the neighborhoods that surround the downtown area are working& and let this be just one more example of what we can accomplish when we pull our resources together," said Fresno Mayor Ashley Swearengin.
14 other homes have been purchased as part of the N.S.P. program to be resold.
Anyone who is interested in purchasing the home unveiled today can call Guarantee Real Estate to see if they qualify. Their number is (559) 322-6020.
The homebuyer must be pre-approved by a bank for a first mortgage, then the county gives them a second, interest-free loan for up to 30% of the value of the home. The county loan does not have to be repaid if the buyer stays in the home for at least 15 years.
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