Wednesday, August 21, 2013
Staff report
YOUNGSTOWN
The Youngstown Neighborhood Development Corporation’s Community Loan Fund, designed to help first-time home buyers unable to obtain financing from traditional lending institutions, recently assisted three people in the city’s Brownlee Woods neighborhood.
The program provided $123,000 of investment in the South Side neighborhood.
“Being a homeowner has changed my life in so many ways,” said Betty Thurston, one of the three new home buyers. “One thing I do know is that it feels good to put my keys in the door and open it, and every time I say to myself, ‘Wow , this is mine.’ ”
The fund also offers first-mortgage financing in the Crandall Park, Garden District, Handel’s, Idora and Lincoln Knolls neighborhoods. It provides financing from $10,000 to $75,000 for the purchase of owner-occupied housing in those areas.
Since its inception last year, 14 homes have been financed through the fund. and 45 additional prospective home buyers are currently in the process of pursuing financing through the program.
To date, there has been no past due payments or defaults from program participants, according to the YNDC.
For the complete story, read Thursday's Vindicator or Vindy.com.