Trading rent checks for a mortgage - WALB.com, Albany News, Weather, Sports

Trading rent checks for a mortgage

March 19, 2007

Valdosta - Families who have a hard time affording housing may soon have some help.

The City of Valdosta is hoping to implement a program they hope will increase home ownership in the city.

Under the program, those looking to buy a home could get up to $7500.00 towards a down payment plus other incentives.

They hope this will convince more people to put their monthly rent check towards a mortgage.  "You'd be surprised with how many people with good paying jobs are still renting so it was one of the campaign promises we made and we're going to push that starting Friday," says City Councilman Alvin Payton, Junior.

The City will be approaching mortgage and real estate companies this Friday and hope to get the program started soon.

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