City of Palm Coast will give you $45,000 to Move there! (Orlando: foreclosed, loan)

[madcapmagishion]

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 the
program to help people buy foreclosed homes. 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 will give you $45,000 to Move there! So move now, don't delay. Palm Coast want's you, to move today.

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

[jambo101]

Is this a desperation move by the powers at PC to fill the many vacant homes in PC after the exodus of home owners who came to the realization that they bought a boring cookie cutter home in the middle of nowhere.

[Caladium]

Hmmmm....lots of retirees need a deal, and don't care about being in the middle of nowhere. I wonder if that's who they'll attract.

[cricketfan]

Originally Posted by jambo101

Is this a desperation move by the powers at PC to fill the many vacant homes in PC after the exodus of home owners who came to the realization that they bought a boring cookie cutter home in the middle of nowhere.

No Jambo. This is an effort to put a dent in the number of foreclosed homes. There has been a downtown in the housing market and in the economy in general. Where have you been?

[madcapmagishion]

Originally Posted by jambo101

Is this a desperation move by the powers at PC to fill the many vacant homes in PC after the exodus of home owners who came to the realization that they bought a boring cookie cutter home in the middle of nowhere.

Desperation or not if it gets people to move there and take up residence in previously forclosed homes and to pay property tax and boost the local economy. If it works who cares, maybe it should be done in more places.

[fsquid]

you have to have an income less than $68k

[madcapmagishion]

Originally Posted by fsquid

you have to have an income less than $68k

The median income for a family in the Palm Coast area is only $45K and change, so meeting that requirement shouldn't hamper anyones efforts to purchase one of the foreclosed homes.

The only drawback is new people moving to Palm Coast from other areas being able to buy one of the homes as the job situation in Palm Coast has always been weak. . In December 2009, it had the worst unemployment rate of the state of Florida's largest metropolitan areas, according to the Bureau of Labor Statistics.The unemployment rate was 16.9 percent. So unless your willing to commute to Jax, Daytona or Orlando for a job, I wouldn't hold my breath.

[Caladium]

I modified this a little and copied it to the Retirement Forum. This deal may not entice people who need a job, but it could be perfect for many retirees.

[madcapmagishion]

Originally Posted by Caladium

I modified this a little and copied it to the Retirement Forum. This deal may not entice people who need a job, but it could be perfect for many retirees.

Well considering that almost 36% of the people in Palm Coast are retirees, it would be almost perfect for even more to join them.
And if they like golf, even better. As there are 10 golf courses in the community. It was originally conceived and designed to be a retirement/resort development/community.

[blueridgerider]

Originally Posted by jambo101

Is this a desperation move by the powers at PC to fill the many vacant homes in PC after the exodus of home owners who came to the realization that they bought a boring cookie cutter home in the middle of nowhere.

As a resident of 14 yrs in PC, years ago it was in the middle of nowhere, and it was wonderful. Not anymore!! Very much a thriving community. We are still not retirees but almost, can't wait.