A special financing program that helps first-time buyers get below-market loans to buy foreclosed homes has expanded to Sacramento County.
The program, established last month by Gov. Arnold Schwarzenegger, sets aside $200 million to help up to 1,000 homeowners buy houses repossessed by banks. It is available in areas hit hardest by the foreclosure crisis.
Sacramento County was added Thursday, alongside San Benito and Monterey counties.
In Sacramento County, a family of three or more earning up to $99,400 would be eligible for a home valued up to $580,000.
For details, go to the California Housing Finance Agency's Web site: www.calhfa.ca.gov. Click on Community Stabilization Home Loan Program.
– Jim Wasserman
