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Thread: Prayers for housing

  1. #1
    Join Date
    May 2002
    Location
    Milwaukee
    Posts
    533

    Prayers for housing

    I want to ask for prayers for my friend "MJ" and her housing situation. She has just found out she is pregnant and she and her husband desperately need to find "lead-free paint" housing. They are in Boston and hoping to buy but don't yet have the typical 20% down for that area.

    Thank you-

    Laura
    BACON - A Los Angeles librarian reports she finally found it necessary to revoke a gentleman's library card. Because her repeated letters to him, telephone calls, and face-to-face pleas still failed to break him of the peculiar habit of using strips of raw bacon as bookmarks.

    -Boyd's Book of Odd Facts

  2. #2
    Join Date
    Sep 2001
    Location
    Dedham, MA
    Posts
    2,355
    Are they 1st time homebuyers? If so, they do not need 20% down, there are many programs available for 1st time, as well as low and moderate income families. You or she can PM me if you want some names of people to contact for housing program information.

    Ellyn

  3. #3
    Here's a link to the City of Boston lead abatement program:

    http://www.cityofboston.gov/dnd/B_Le...nformation.asp

    Also, we bought our house through NACA which is based in Boston. They don't require a down payment and cover closing costs. They work with people who have bad credit as well as those who have great credit. We bought our dream house with a very low interest mortgage. Here's a link to their website:

    http://www.naca.com/index.jsp

    If your friend has any questions about the program, I'll be glad to answer. I'm sure Ellyn has some great ideas as well.

    Good luck to your friend!

  4. #4
    Join Date
    Oct 2000
    Location
    Lewiston ID
    Posts
    1,675
    You might also want to post this request over on the Prayer and Praise thread. There are a number of people who check that thread regularly, and keep in prayer whatever requests are made there.
    Susan

    So many books--So little time.

  5. #5
    Join Date
    Jun 2000
    Location
    Chicago, IL USA
    Posts
    9,076
    I am a mortgage broker. You do not have to be a first time home buyer to get those low/no downpayment programs. They call them first time homebuyer programs because it's typically people who don't already own that don't have any downpayment (usually when you already own, you've accrued some value in your current house, thus giving you some form of downpayment for your next house), but again, there is absolutely no rule or law or prequalification that says you have to be a first time homebuyer. Many people get divorced, and don't get half the house, or lose the house to foreclosure, or just get a house that doesn't appreciate much in value. These people qualify for "first time homebuyer" programs as well. The one caveat is that usually for little or no money down programs, you have to have decent credit (not necessarily excellent, but decent). Those with poor credit can also get mortgages, but they are required to have a little more down, and typically pay higher rates.

    Good luck to your friend, and tell them to check out a broker. They can usually get a good referral from their real estate agent.

  6. #6
    Join Date
    Oct 2001
    Location
    Houston, TX
    Posts
    2,062
    Laura,

    I've added MJ to my prayer list.

    Kim

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