For those of you looking to buy a house (foreclosed house), there’s some good news as Obama’s new plan will help you get (almost) free money on your down payment.  Of course, it’s not all free but you might be able to come out with a super low-interest loan.

Do a Google search for the term ‘neighborhood stabilization program’, along with the name of your state, county, or city.

If a program is active in your area, your search should turn up information about how to apply, how much grant funding is available, and what the requirements are.

For instance, a link to one of the NSP program pages is included in Resources, directly below. You can see that assistance of up to $125,000 is available to help homebuyers with down payments on foreclosure properties. Even families with incomes of $100,000 or more can be eligible to receive the money.

via eHow

Tags: down payments, families with incomes, foreclosed home, foreclosure properties, free money, google, google search, government funds, homebuyers, low interest loan, neighborhood stabilization, nsp program, obama, stabilization program

This entry was posted on Saturday, May 23rd, 2009 at 6:29 pm and is filed under SF Real Estate News.