Miami Joins NeighborhoodLift Project

May 29, 2012 (Chris Moore)

Miami has been chosen by Wells Fargo & Company to become the sixth 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.

Miami joins Los Angeles, Atlanta, Phoenix, Las Vegas and Houston 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 Miami is to generate $300 million in mortgage purchase loans which includes a $9 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 June 1st and 2nd at the Miami Airport Convention Center from 10:00 a.m. to 7:00 p.m. on both days Similar two day events were held in Los Angeles, Atlanta, Phoenix and Las Vegas which helped more than 1,228 prospective home buyers qualify for down-payment assistance totaling almost $24.6 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 Miami market.

Tomás Regalado, Mayor for the city of Miami, stated, “The downturn in the economy has created challenges for many of our Miami citizens to become homeowners. We are looking forward to collaborating with Wells Fargo, NeighborWorks America, and Neighborhood Housing Services of South Florida on this important sustainable housing effort. It’s time to get our housing market moving again.”

The address for the event is:

Doubletree Miami Airport Convention Center
West Hall
711 NW 72nd Ave
Miami, FL 33126

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, Miami, mortgage purchase loans, homebuyers, down payment assistance, sustainable home ownership

Source:
Wells Fargo