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Old 11-20-2011, 07:13 PM
 
155 posts, read 280,248 times
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Program is limited to about 20 foreclosed homes and half over, don't get your hopes up. Federal income and demographic limitations apply, so, oh well.
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Old 11-24-2011, 05:21 PM
 
134 posts, read 207,709 times
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Quote:
Originally Posted by Escort Rider View Post
It would take a hell of a lot more than $45,000 to induce me to live in Florida.

Happy to hear that.
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Old 11-25-2011, 02:58 AM
 
33,046 posts, read 22,092,919 times
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Originally Posted by Caladium View Post
I saw a note on the Jacksonville forum that may be of real interest to retirees. The city of Palm Coast is offering a new program that gives up to $45,000 in grant money for homebuyers.

Palm Coast received $1.4 million from the U.S. Department of Housing and Urban Development to fund this program. The homes range in price from $80,000 to $150,000.

If the family lives in the home for the required time 10-15 years, the loan is forgiven. If they sell or violate terms of program, the loan will need to be paid back

The City of Palm Coast is not that close to any metro areas and thus is not a good place to find a job. However for retirees this might be a really good deal.

Here's a link with more info ... Neighborhood Stabilization Program 1

OMG more upward redistribution from renters to homeowners.

Neighborhood Stabilization is popular code for "too many renters, there goes the neighborhood, time for social engineering to save the day".
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Old 11-25-2011, 03:00 AM
 
33,046 posts, read 22,092,919 times
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Originally Posted by season10 View Post
Program is limited to about 20 foreclosed homes and half over, don't get your hopes up. Federal income and demographic limitations apply, so, oh well.

What are the "demographic limitations" other than those specific to income?
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Old 11-25-2011, 02:31 PM
 
Location: Virginia
18,717 posts, read 26,932,144 times
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Originally Posted by freemkt View Post
OMG more upward redistribution from renters to homeowners.

Neighborhood Stabilization is popular code for "too many renters, there goes the neighborhood, time for social engineering to save the day".
It may be code for too many unsold houses. The problem with this location isn't that it's a rental neighborhood, it's that there aren't many businesses or jobs nearby (and the recession prevented previously planned commercial projects from being built). They need to attract people who can move to the area without needing a job. I suppose you could argue that they could try to attract seniors to rent the houses, though.
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Old 11-25-2011, 11:34 PM
 
33,046 posts, read 22,092,919 times
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Originally Posted by Caladium View Post
It may be code for too many unsold houses. The problem with this location isn't that it's a rental neighborhood, it's that there aren't many businesses or jobs nearby (and the recession prevented previously planned commercial projects from being built). They need to attract people who can move to the area without needing a job. I suppose you could argue that they could try to attract seniors to rent the houses, though.

No, they don't want renters, this is obvious from the fact that only homebuyers get financial assistance. Renters get squat. They give lip service to renters but that's all.
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Old 11-29-2011, 10:22 AM
 
25 posts, read 31,094 times
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i live in PC. there are plenty of seniors moving here. i have to move out, due to there being no jobs here. want to move to wash dc area. If you work online or are retired and like Daytona beach, it is great. its so quiet here you can hear a pin drop, and i live in the 'bad' P section!
This program is very limited and 300-400 people showed up At the meeting about it. since the last one only did about 20 homes i wouldnt get my hopes up. the quota is probably filled.
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Old 12-01-2011, 11:47 PM
 
9,916 posts, read 9,312,377 times
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Quote:
Originally Posted by Caladium View Post
Very true. And in particular, retirees would have even less of a worry about feeling isolated (I think) since they don't need an area with a lot of employment.
Flagler Beach is about 11 miles South of Palm Coast on A1A with a great fishing pier and two good seafood restaurants ... more than 2 but that's all we have tried. We have seen retirees buzzing around there on golf carts. So it's approx 25 miles north to St Augustine and 25 miles south to Ormond/Daytona Beach area.

My very favorite ocean highway is A1A leaving St Augustine going south. No housing blocking the Atlantic Ocean it is really beautiful. Our son lives on the Gulf side of Florida and people in the Sarasota area think they own the beach in front of their homes.
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Old 06-21-2014, 08:52 AM
 
1 posts, read 711 times
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Default link doesn't work

I live in Palm Coast and bought a house two years ago... Never heard of this and it was never talked about or offered when I bought... Too bad, I'd love to have my loan forgiven!
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Old 06-21-2014, 11:03 AM
 
48,516 posts, read 84,010,700 times
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Originally Posted by livecontent View Post
Thanks for your response. Much of all that goes on today is to move wealth to the banking and financial industry.

The city/county acquires a property under foreclosure. They get money from the federal government to rehabilitate. These municipalities or developer sell the home to a low or moderate income buyer. These buyers will pay a higher price because they are not very knowlegeable. In addition, they need and want the grants, again more money from the government, so they are willing to buy.

They municipalities set a higher assessment, because they are in control and that it was sold at a higher price. It gets them more taxes and retains the neighborhood values. All fine and good at this level.

Next the buyer gets a loan from the financial industry for a larger price then what it is really worth and the loan is guaranteed by the feds. The banks receive more interest from a higher mortgage, from an inflated assessment. In addition, if there a default then the government pays the bank. The banks makes more with no risk and the taxpayers are the ones really gving the money being that is channeled to the bankers.

An example of the Greed of Wallstreet and Capitalism backed by the Federal Government using your money to fund the rich lifestyles of the tycoons of Wallstreet. The bankers know no Schand, as it is part of their culture because to rob the poor for the benefit of the rich, is a badge of honor.

Livecontent
Rob poor the rich for benefit of the rich? Seems kind of the opposite to me if you look at funding of the government and most of the poor's benefits; really. Most of the poor and even to 60% overall seem to be dependent on the rich to include most of US. Do you seriously think those funding that program are the poor or even middle class? You say you do not know but make such a statement. Perhaps look in the mirror more.
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