Officials in Newark are trying to expand opportunities for low- and moderate-income families to become homeowners. On Tuesday, four families saw their American dream come true. Christinafantv reports.
-- Officials in New Jersey's largest city are trying to expand opportunities for low- and moderate-income families to become homeowners.Patricia Hobbs is still on a high after receiving the keys to her three-bedroom home. A renter for the last 15 years, homeownership always felt out of reach until she learned of a recent"I stalked them until they were ready to take my information.
"If you have a Section 8 voucher, it's hard for you to purchase a home any other way. We sell the homes at affordable, at below-market rates," said Martha Baez, senior VP of Newark Land Bank. "Our ability to be able to put homes in people's hands attacks that wealth gap and gives it to people who need it the most," NewarkThe homes are newly renovated and transformed from blighted properties. Homeowners must retain ownership for at least 15 years.
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