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Old 02-27-2009, 01:29 PM
 
293 posts, read 942,534 times
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Where will Phoenix spend it's share of the economic stimulus package?
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Old 02-27-2009, 01:31 PM
 
Location: Sonoran Desert
37,509 posts, read 47,835,980 times
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Quote:
Originally Posted by thedreamteam View Post
Where will Phoenix spend it's share of the economic stimulus package?
welfare for illegals.
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Old 02-27-2009, 02:10 PM
YAZ
 
Location: Phoenix,AZ
7,397 posts, read 13,331,563 times
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Phoenix will give more money to folks that couldn't afford homes that they moved into in the first place. Then these same folks will reneg again.

The cycle continues....
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Old 03-23-2009, 11:32 AM
 
2 posts, read 4,112 times
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You are all ill-informed. You should do some research before making smarmy coments. The city of Phoenix will be using the money to help people afford to buy a home. Since a down payment is needed, they have come up with a special FHA loan that gives the home buyer an opportunity to use $15,000.00 toward the closing costs and the down payment of a home. There is more detailed information about it that you can find out from your local bank branches. Their mortgage departments have been well informed about this Stimulus plan.
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Old 03-23-2009, 03:29 PM
 
2 posts, read 4,112 times
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Here is the link that goes over the news. On that page is also a fact sheet that helps break down the details. Hope this helps.
[url=http://www.phoenix.gov/news/031209homeinfo.html]Official Site of the City of Phoenix[/url]
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Old 03-23-2009, 03:50 PM
 
Location: Scottsdale, AZ
426 posts, read 1,253,818 times
Reputation: 250
Quote:
Originally Posted by PoliticallyNuetral View Post
Here is the link that goes over the news. On that page is also a fact sheet that helps break down the details. Hope this helps.
Official Site of the City of Phoenix
If I'm reading the contents of the PDF correctly, I don't qualify for the $15,000 loan from the City of Phoenix. We have a family of four and my base salary is above the $77,050 given in the document's table.

Based on the requirements to get the loan from the city, it sounds like offers to the banks listing REO properties could make a more competitive offer saying it was not dependent on this loan program from the city.
Quote:
Purchase contract must contain four contingencies:
- Sales price at least 15 percent below appraised value
- Property clear of the city’s top eight neighborhood code violations
(see phoenix.gov/CLEANPHX/topseng.pdf)
- Pass inspection according to HQS before close of escrow
- Signed “Lead Disclosure Form” from seller for properties built pre-Jan.1, 1978
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