March 22, 2012 (Chris Moore)
Phoenix has been chosen by Wells Fargo & Company to become the third market in the nation to join the bank’s NeighborhoodLift pilot program designed to help communities attract qualified, prospective homebuyers to neighborhoods struggling with high inventories of unsold homes.
Phoenix joins Los Angeles and Atlanta as a participant in the program based on the city’s high concentrations of homeowners, foreclosures, delinquencies, and overall housing inventory.
Wells Fargo’s five year goal in Phoenix is to generate $3 billion in mortgage purchase loans which includes an $8 million investment the bank is making this year for down payment assistance grants and homebuyer support programs that help consumers achieve successful, sustainable home ownership.
Prospective home buyers can apply for down payment assistance grants of up to $15,000 per homebuyer through the Wells Fargo foundation.
A two day NeignborhoodLift event is being held on March 23rd and 24th at the Phoenix Convention Center. Similar two day events were held in Los Angeles and Atlanta which helped more than 640 prospective home buyers qualify for down-payment assistance totaling up to $16.4 million.
At the event, prospective home buyers can apply for the down payment assistance and participate in homebuyer education sessions and tours of residential properties for sale in the Phoenix market.
Eileen Fitzgerald, chief executive officer of NeighborWorks America, the national non-profit collaborating with Wells Fargo on NeighborhoodLIFT, stated, “This is a tremendous commitment by Wells Fargo to support homeowners and communities. This is the kind of public-private collaboration that can help communities tackle difficult challenges and families realize their goal of sustainable home ownership.”
The address for the event is:
Phoenix Convention Center
South Hall F
101 N. 3rd Street
Phoenix, AZ 85004
Walk-ins are welcome, but registration is strongly recommended in order to guarantee the ability to meet one-on-one with a professional. You can register online here.
For a list of what documents to bring that will help you when you meet an on-site professional, click here.
For any questions that you may have about the event, please call 1-866-858-2151, M-F, 8 am to 5 pm CT.
Tags: Wells Fargo, NeighborhoodLift, Phoenix, mortgage purchase loans, homebuyers, down payment assistance, sustainable home ownership