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Old 11-09-2011, 10:11 AM
 
Location: Virginia
18,717 posts, read 26,913,849 times
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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
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Old 11-09-2011, 11:46 AM
 
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That's really interesting. I did some research and it appears that it's not an inner-city type project at all (which was my first thought). If I were in the market to move, I'd seriously check it out.
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Old 11-09-2011, 12:47 PM
 
Location: Virginia
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Quote:
Originally Posted by texasfirewheel View Post
That's really interesting. I did some research and it appears that it's not an inner-city type project at all (which was my first thought).
Not at all. It's a suburban coastal area between St. Augustine and Daytona Beach. One of those places that had a lot of building during the real estate boom, but didn't have a big city nearby, so once the bubble burst there was suddenly a big inventory of empty homes. It seems like an ok area to me, the problem is it's kind of in the middle of nowhere (which for many retirees is an attraction).
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Old 11-09-2011, 12:58 PM
 
Location: Exeter, NH
5,302 posts, read 4,403,211 times
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Quote:
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
Yup, typical HUD--although through their restrictions, outright grant money is given away almost exclusively to minorities.

As my family sends the value of a luxury SUV to Washington every year in Federal income tax alone (while we drive two well-over 10-year old vehicles, with well over 100,000 miles each), it's sure nice to know our money is being spent for a good purpose: a windfall for current retirees--the only ones largely insulted from the unending Recession/Depression--who are covered by the Social Security and Medicare that I pay for, but will never get.
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Old 11-09-2011, 03:28 PM
 
Location: Virginia
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There's no age restriction on this program. You can take advantage of it too if you wish.
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Old 11-09-2011, 11:02 PM
 
15,149 posts, read 19,763,215 times
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Quote:
Originally Posted by NHartphotog View Post
As my family sends the value of a luxury SUV to Washington every year in Federal income tax alone (while we drive two well-over 10-year old vehicles, with well over 100,000 miles each)

LOL! I've sent that luxury car value to Washington every year for the past 20 years. (I retired this year and they wont be getting any more such payments from me.) And I drive a 13-year old two-door Jeep.
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Old 11-12-2011, 09:38 AM
 
Location: Los Angeles area
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It would take a hell of a lot more than $45,000 to induce me to live in Florida.
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Old 11-12-2011, 09:51 AM
 
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Yes it might be a good deal for retirees. If I wasn't a young working citizen and if I was in the position to buy I'd check it out too.
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Old 11-12-2011, 03:27 PM
 
Location: Virginia
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I wonder what other cities have similar offers. I saw a notice for Pittsburgh, so maybe there are quite a few of these programs. Anyone know of others?
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Old 11-12-2011, 04:12 PM
 
Location: SoCal desert
8,093 posts, read 13,234,579 times
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I believe you can search this map by state ...

View Grantees by State or Territory
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