Posted on 07/28/2025 4:48:12 AM PDT by MarlonRando
This program is giving more Palm Beach County residents the chance to call themselves homeowners.
The program is run by the county’s Department of Housing and Economic Development.
“We provide up to $100,000 for down payment assistance, new construction, acquisition and closing costs,” said Dorina Jenkins-Gaskin, the director of Mortgage and Housing Investment with the Palm Beach County Housing and Economic Development.
(Excerpt) Read more at wpbf.com ...
This is muy bueno if you have 40 muchachos crammed into your casa, and you all make combined $5000 a year/ano. This stuff never applies to me.
Palm Beach neighborhoods are about to get more diversified.
yes, thanks to Ms. Dorina Jenkins-Gaskin, the director of Mortgage and Housing Investment. Is that Irish?
I’m kidding, of course
“We provide up to $100,000 for down payment assistance, new construction, acquisition and closing costs,”
Who is “we”?
What’s the ROI for the taxpayers forced into such generosity?
What’s the clawback if they default?
That’s the thing about DEI- you can’t just accept illegals and trannies and use their pronouns, acceptance isn’t enough. You have to put on your party hat, your sombrero, and celebrate. Give till it hurts.
Is the 100k a gift or a loan?
We saw this about 10 years I ago I think. This “assistantce” was nothing more than a second loan for downpayment money. O Joy. You can take on two home loans at once. What it did was put some people in very very tight finacial situations. I hope this isn’t that again.
No requirement to actually live in the house?
With the imposed income requirements the only way the program makes sense is that take possession of the house and immediately flip it.
With those income requirements you would lose the house in the first year. You could never make the payments.
0% loan
“””“There are also income requirements. A one-person household can earn no more than $65,450; a six-member household can earn no more than $108,500. The property’s purchase price cannot exceed $568,557.“””””
The property tax on a %500,000 house will be about $10,000 and the insurance cost will be about $7000 per year.
The people who take advantage of this socialist giveaway will soon default on the mortgage and property tax and then they will be squatters for many months or years.
This grand plan is a redux of the CMO (collateralized mortgages) fiasco of 2007-08 that took down many banks and brokerage companies.
exactly. If the folks paid their loans the $3 million would always be there to help others. Loan it to deadbeats and it just flushes down the toilet.
Works every time it’s tried! /S
“This “assistantce” was nothing more than a second loan for downpayment money.”
I sold a house by owner many years ago. The people who bought the house originally did not qualify. Then they got a $5000 down payment assistance from...somewhere, I assume government. The $5000 was then added into the loan. That made absolutely no sense to me.
Basically, it’s to prop up property values.
What a scam.
How will anyone with an income that low afford all the ancillary costs that come with owning a pricier home??
Which goose property tax revenues that support the Deep State.
I’ve been hearing stories about people, even seniors, leaving Florida due to the high costs involved with owning a home.
Now I believe the stories.
https://discover.pbc.gov/HED/Pages/HOME-First-Time-Homebuyer-Program.aspx
That says the portal is now closed.
Well, that didn’t last long.
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