Programs & Status
LAHD Low Income, Mod 120, Mod 150 - January 2009*
LACDC HOP - November 2008*
LACDC ADDI - July 2008*
LAHD ADDI - Available
LAHD MCC - Available
CalHFA (ExtraCredit Teacher, CHDAP, CHAP, HiCAP, etc.) programs - Available
*Reflect anticipated dates that are not guaranteed.
I already know what some of you are thinking. There's no way on earth I'm going to wait till November or January of next year to see if these programs will be available. For others, this is just part of a delayed waiting game that reflects the current real estate market and state of economy.
If you were counting on down payment assistance the question you should ask yourself is, will the lack of sufficient down payment assistance programs prevent my purchase or delay my purchase? If prices for your area are predicted to continue to fall, then it wouldn't exactly be advisable to buy now anyway, because you would missing out on potential savings.Your decision on whether to purchase now or later will depend on well you understand this market - specifically, your local market. If you're confused about the When you should buy, look at my list of the How should by first...
1 comment:
Hello Hassan, I'm a Math teacher in lausd and am so thankful for this blog. I was wondering if you could write about the typical "story" of using these programs and how long the process takes. I've heard of waiting lists and 3 month escrows. Assuming all the programs are in effect in January, how much money could one get and how long would it take?
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