Vacants to Value Initiative To Be Featured on The Marc Steiner Show
Homeownership incentives help drive growth and reinvestment in Baltimore
(Baltimore, MD – June 19, 2012) – In celebration of National Homeownership Month, Mayor Stephanie Rawlings-Blake’s Vacants to Value homeownership program will be highlighted on The Marc Steiner Show on Tuesday, June 19, 2012 at 6 pm. Baltimore area listeners can tune in to the program this evening to hear about new city and state home buying incentives and the impact Vacants to Value has made on Baltimore.
Earlier this month, Mayor Rawlings-Blake announced the launch of a second round of funding of an additional $500,000 for the Vacants to Value Homeownership Program, making it a total of $1 million dollars for the first 100 buyers of Vacants to Value eligible homes. Other Baltimore City programs include the First Time Homebuyer Program, Buying into Baltimore, Live Near Your Work and the Employee Homeownership program.
The Maryland Mortgage Program also announced earlier this month that it is offering a reduced interest rate of 2.875% in targeted areas around the state, including the entire jurisdiction of Baltimore City. The reduced rate of 2.875% will be offered to all qualified buyers for approximately three months or until the entire $30 million earmarked for this incentive is committed. The Maryland Mortgage Program offers a variety of low-interest, fixed-rate mortgage loan options with down payment and closing cost assistance for first-time homebuyers; purchasers in a targeted area are eligible for a one-time exemption to the first-time homebuyer requirement.
The show’s guests will include Michael Guye, Baltimore Housing’s Director of Homeownership; Steve Silver, Chief Financial Officer of the Maryland Department of Housing and Community Development; and Catherine Stokes, Senior Project Manager with Telesis Corporation, which has been rehabilitating homes in the Barclay-Old Goucher community.
Launched in November of 2010, Mayor Rawlings-Blake’s Vacants to Value initiative is driving growth and reinvestment in Baltimore's neighborhoods by streamlining the sale of vacant city property; strengthening code enforcement efforts to promote rehabilitation; and providing targeted incentives for homebuyers and developers who invest in vacant properties.
For more information about the Vacants to Value Homeownership Programs, visit Baltimore Housing’s website at www.baltimorehousing.org.