Dept. of Housing Launches YourWayHomeAZ.com to Help Arizonans Purchase Foreclosed Homes
Arizona Department of Housing Director Donald E. Cardon today announced YourWayHomeAZ.com – a one-stop Web site with the latest information on Arizona’s Neighborhood Stabilization Programs (NSP), including assistance for purchasing foreclosed homes.
Those interested in purchasing foreclosed homes in select areas throughout the state will be able to determine if they might be eligible for the Your Way Home AZ programs and which program meets their needs.
“Especially during these tough economic times, Arizonans are looking for the stability, safety and hope that a secured home provides,” said Director Cardon. “Your Way Home AZ brings the joy and responsibility of owning a home one step closer for those who were unable to afford a home even a year ago.”
Funding was made available through the U.S. Housing and Urban Development Neighborhood Stabilization Program (NSP). The state of Arizona and nine other counties and communities received more than $121 million to help stabilize the state’s hardest hit neighborhoods through a variety of efforts.
Information regarding the NSP projects for the state of Arizona, Maricopa County, Pima County and the cities of Avondale, Chandler, Glendale, Mesa, Phoenix, Surprise and Tucson will be available at www.YourWayHomeAZ.com.
The state of Arizona will use up to $20 million of its $38 million allocation to assist homeowners in purchasing foreclosed homes through a down payment assistance program. Individuals and families who have a gross income of 120 percent or less of the average median income (AMI) may be eligible for the assistance. AMI is determined by the federal government for each county in Arizona.
Some of the NSP projects are already underway and information can be found on www.YourWayHomeAZ.com. The state of Arizona’s down payment assistance program will be available to residents of Apache, Coconino, Cochise, Gila, Graham, Greenlee, La Paz, Mohave, Navajo, Pinal, Santa Cruz, Yavapai and Yuma Counties in May 2009. It will then be open to all Arizona residents in July 2009.
“We encourage all Arizonans to visit www.YourWayHomeAZ.com to determine if they may be eligible to participate in the opportunity this program provides,” Cardon said. “The information is free and you could be closer to owning your own home than you might imagine. This truly is a great opportunity for families as well as individuals to experience a major element of the American Dream – which many believe includes owning your own home.”
Arizonans should check the Your Way Home AZ site often as communities update their projects.
For more information about the Arizona Department of Housing, please visit www.azhousing.gov.
















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