The City of Birmingham and a nationwide neighborhood revitalization firm want to help working families get into houses.
The idea is to take vacant and foreclosed houses and allow families to acquire them and rehab them.
The $20 million housing initiative is called "Get Home Now!"
On Thursday, city leaders along with APD Solutions, met in council chambers to discuss the multi-million dollar plan.
To get the program started, APD put up $20 million of capital for mortgages and home repairs for the City of Birmingham.
Ultimately, this program is about reducing the number of vacant homes due to foreclosures, while creating more opportunities for potential homeowners.
Birmingham Mayor, William Bell said, "It doesn't matter if you have a low credit score or a high credit score. It can help you do more than you could without it and so we want to encourage everyone to check into this program and to utilize it to help rebuild the city of Birmingham."
Qualified families can obtain a mortgage through this program by having a minimum credit score of 580. Part of this initiative features a provision for policemen, firefighters and military personnel, in which a credit score of 550 will be accepted.
To learn more, contact (877) 484-6669 or click here.
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