Grants Available to First-time Home Buyers to Repair Foreclosed Homes in Haverhill, MA Through MassHousing Partnership
By Richard Rosa, Exclusive Buyer Agent
(Buyers Brokers Only, LLC)
First-time home buyers in Haverhill, MA may be eligible for grant money to make repairs to foreclosed homes, as a result of a partnership announced between MassHousing, the City of Haverhill and Haverhill Bank announced April 15, 2010. Qualified home buyers who obtain a MassHousing Mortgage through Haverhill Bank will be eligible for a second loan to assist in rehabilitating the foreclosed property. The second loan will be funded through the Neighborhood Stabilization Program (NSP), which was created in federal economic recovery legislation.The rehabilitation loan could be forgiven depending on how long the home buyer lives in the home and the total amount of NSP funds used.The city of Haverhill is the first city in Massachusetts to partner with MassHousing in the NSP program and Haverh...