County, city leaders announce Helping Home ownership program - Action News 5 - Memphis, Tennessee

County, city leaders announce Helping Homeownership program

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MEMPHIS, TN -

(WMC-TV) - Following an unfair lending lawsuit, more money is trickling in from a Wells Fargo settlement with Memphis and Shelby County.

Community leaders said millions of those dollars are already making home ownership dreams come true.

"This is a big benefit ," said Memphis Mayor A C Wharton.

In a news conference Thursday Wells Fargo, city, and county leaders announced the kick-off of the Helping Homeownership program offering $4.5 million in down payment assistance.

"It's going to be an exciting time over the next few months as we get this program rolling," said Shelby County Mayor Mark Luttrell.

In a two-day event at the Memphis Cook Convention center on Nov. 30th and Dec. 1, prospective home owners will meet with counselors and participate in workshops to discuss qualifications and criteria.

United Housing will administer the program offering up to $15,000 for down payments or home renovations.

Discussing the importance of the program and how you can pre-register for the event, United Housing Director Tim Bolding was on hand to offer a tour of a Raleigh open house.

Bolding said a family recently closed on a home in less than 20 days and said it many Mid-Southerners could do the same.

"We can help you if you're $8,000 short or if you live in a neighborhood that is overgrown. That million dollar settlement, here's what it's doing for your neighborhood," said Wharton.

Wells Fargo is sponsoring the event but representatives say several lenders will be available to provide loans.

"We indeed will seek progress in our community in the area of homeownership and economic vitality," said Luttrell

You will need to bring several items with you if you plan to attend these home buyer workshops.

You can pre-register and learn more about the program by going to www.helpingmemphishomebuyers.com or by calling 1-866-858-2151.

You can download more information here in this packet.

 

 

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