MHC to Promote $40,000 Grant for Purchase of Foreclosed Properties

Real Estate professionals, Lenders, Counselors on hand for free information/ advice

Oxford, MS – March 16, 2010 – (RealEstateRama) — The Mississippi Home Corporation will hold two events to promote its new Home Buyer Advantage (HBA) program that provides grants of up to $40,000 to homebuyers purchasing foreclosed properties in qualifying areas across the state. The first event will be held on Tuesday, March 30 from 4:00 until 7:00 p.m. at the Lafayette County & Oxford Library, 401 Bramlett Blvd. in Oxford. The second event will be held on March 31 at the Tupelo Library on 219 N. Madison St. in Tupelo from 4:00 p.m. until 7:00 p.m. Both events are free and open to the public.

Under the Home Buyer Advantage program, eligible borrowers can receive a grant of $15,000 for purchasing a foreclosed home and an additional grant of up to $24,999 based on the borrower’s credit score for a possible grant total of $39,999.

At the workshops, professionals will be on-hand to demonstrate how to apply for the HBA program, where to go to get an HBA loan, and to explain the process of becoming an HBA grant recipient. The events are part of an ongoing effort on the part of MHC to help spread the word about the HBA program and inform the public about the benefits of homeownership.

“MHC has already committed or received reservations for 1/3 of the $20 million for the Home Buyer Advantage program, which demonstrates the program’s increasing popularity,” explained Dr. Ben Mokry, Senior Vice President of Research and Development for MHC. “We want to ensure that everyone in an eligible area of the state knows about the program and has the opportunity to utilize HBA,” he continued.

For more information on the Home Buyer Advantage Program, how to contact an approved lender, or for more information about the Mississippi Home Corporation in general, parties should contact MHC directly at 601.718.INFO (4636) or at www.mshomecorp.com.

The Mississippi Home Corporation was created by the State in 1989 to serve as the State’s Housing Finance Agency. In that capacity, MHC administers the Mortgage Revenue Bond program and the Housing Tax Credit program, among others. MHC’s mission is to enhance Mississippi’s long-term economic viability by financing safe, decent, affordable housing and helping working families build wealth.

Contact: Scott Spivey
Vice President, Corporate Communications
601-718-4601
Scott.spivey (at) mshc (dot) com

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