My father bought a burned down property across the street about 4 years ago. He told me recently that if my wife and I wanted the property, we could buy it for the $1,000.00 he paid for it. It sits on 3/4 acre. Everything is burned down except the bricks and 20% of the frame. My wife and I would love to rebuild this house, and make it our home. Any suggestions on any grants for our situation?
By Terry from Webb, MS
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There are loans available to build homes. You are paying an excellent, low price for the land, which means that you don't have to take out a loan for that. You can contact local builders/contractors; they often either have their own financing or they can recommend some.
Contact your local credit union as well. They probably have a great low-interest loan program. You don't have to be a member now; you can join then apply for the loan. I'd stay away from banks though; they are not the best place to get mortgage loans.
If you are allowed to put a mobile on the property (you may not be; you'll have to check), you can get fabulous manufactured homes for a fraction of the cost of a site-built home. Financing is available on those as well.
You could use the bricks for all kinds of things: a brick wall/fireplace in the living room; a brick patio/walkway; a brick wall to set off a garden; the possibilities are limited only by your imagination.
You didn't answer his question! He asked about grants: free programs, community improvement aid, tax incentives, local help for blighted property help. Anyone can go to bank and ask for a loan
Contact Ellen Degeneres via email/ website. I know it sound far fetched... but she is always helping out in various situations. Besides the worst she can say is no! Good luck!
For grant information, I would contact your local community development office. There is an FHA loan called 203K that will finance purchase and rehab on a property for owner-occupants.
There's a website called, "go fund me", maybe you could hit up your facebook community or something.
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