Cheap Philadelphia Foreclosures Through Mt. Airy Program

Cheap Philadelphia Foreclosures Through Mt. Airy Program

A collaboration of Mt. Airy USA and the City of Philadelphia Redevelopment Authority is offering a  federal housing stabilization program through which prospective buyers in Mt. Airy can purchase foreclosed properties at reduced prices.  The Neighborhood Stabilization Program (NSP) redevelops foreclosed or abandoned homes and sells them, at reduced rates, to buyers who also participate in the program. Mt. Airy USA and the City of Philadelphia Redevelopment Authority are offering a free workshop to explain the details and requirements of the program.  Mt. Airy USA has participated in the NSP program since its inception as part of federal Housing and Economic Recovery Act of 2008 and thus far the community agency has redeveloped seven foreclosed homes and sold four to first time home buyers.  To qualify buyers must qualify as a low- to moderate-income household, attend a eight hours of workshops and counseling with Mt. Airy USA, and agree to deed restrictions and a “soft” second mortgage in which no payments are due unless the buyer violates the deed restriction.  For more information call 215-844-6021, or go to mausa.eventbrite.com

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Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog

Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623  Direct
610.636.4364  Cellular
888.308.1148  Fax
[email protected]
www.CenterCityTeam.com