This is a really bad idea.

For so many reasons. $189,000 loan for low income people. This will ensure that our local forclosure rate continues to climb.

PENSACOLA, Fla. -- The City of Pensacola is rolling out its new first time home buyer program. The program will help low income families by providing down payment and closing cost assistance of up to $10,000 in the form of a forgivable loan.

Homes purchased must be within the Pensacola city limits and built after January 1, 1978. The maximum purchase price cannot be over $189,000.

For more information on eligibility and how to apply, visit Newslinks.City of Pensacola offering first time home buyer program
Wednesday, November 14 2012, 07:04 PM CST

You don't have enough snese to know buying homes helps our economy.

Dreamsglore wrote:You don't have enough snese to know buying homes helps our economy.

It takes money to pay a mortgage. Guess what low income people don't have. Money. So what happens when they don't pay? Forclosure. Dummy.
The low life/low income people will use this program as free rent till eviction time.

These programs often have a lower default rate compared to bank financing. They don't simply give these loans to anyone. You can go look at the stats at the Florida Housing Finance Corporation website.

salinski wrote:

Dreamsglore wrote:You don't have enough snese to know buying homes helps our economy.

It takes money to pay a mortgage. Guess what low income people don't have. Money. So what happens when they don't pay? Forclosure. Dummy.
The low life/low income people will use this program as free rent till eviction time.

Hopefully the people managing this will be very careful and very selective or it could end up just as Sal says.

Yella wrote:

salinski wrote:

Dreamsglore wrote:You don't have enough snese to know buying homes helps our economy.

It takes money to pay a mortgage. Guess what low income people don't have. Money. So what happens when they don't pay? Forclosure. Dummy.
The low life/low income people will use this program as free rent till eviction time.

Hopefully the people managing this will be very careful and very selective or it could end up just as Sal says.

>>>>>>>>>>>>>>>>>>>>>>><<<<<<<<<<<<<<<<<<<<<<<

He isn't Sal and you know it. He's ghandi, and like I said before, you siding w/ him speaks volumes about your character.

Actually with some 15 year loans going at 2.75%, a low income family will be able to pay considerably less than rent as the market and acquisitions prices are at historical lows. If every home in Pensacola was occupied and maintained, Real estate prices would stabilize and median prices would begin to rise, and as the sea level of real estate prices moves up, the recapture of tax dollars will be greater than expenditures made by the city. If you use 15 year mortgages, folks are going to own their homes and you will have stable neighborhoods and a path to recovery.

W_T_M wrote:

Yella wrote:

salinski wrote:

Dreamsglore wrote:You don't have enough snese to know buying homes helps our economy.

It takes money to pay a mortgage. Guess what low income people don't have. Money. So what happens when they don't pay? Forclosure. Dummy.
The low life/low income people will use this program as free rent till eviction time.

Hopefully the people managing this will be very careful and very selective or it could end up just as Sal says.

>>>>>>>>>>>>>>>>>>>>>>><<<<<<<<<<<<<<<<<<<<<<<

He isn't Sal and you know it. He's ghandi, and like I said before, you siding w/ him speaks volumes about your character.

Then it could end up as someone else said. I can't keep track of people who change their handles like they do their socks. You have probably had over 200. Why is that? Your opinion of my character is worthless to me or anyone else here. You are buried in an avalanche of hate. Study your own character for once.

The City has had this type of program for many years. It helps first-time homeowners with their down payment. There are many restrictions; I think the new owners must occupy the property for a least 5 years, for one. They end up adding to the tax base and having pride of ownership, while probably paying less than they would in rent. What's the problem?

Yella wrote:

W_T_M wrote:

Yella wrote:

salinski wrote:

Dreamsglore wrote:You don't have enough snese to know buying homes helps our economy.

It takes money to pay a mortgage. Guess what low income people don't have. Money. So what happens when they don't pay? Forclosure. Dummy.
The low life/low income people will use this program as free rent till eviction time.

Hopefully the people managing this will be very careful and very selective or it could end up just as Sal says.

>>>>>>>>>>>>>>>>>>>>>>><<<<<<<<<<<<<<<<<<<<<<<

He isn't Sal and you know it. He's ghandi, and like I said before, you siding w/ him speaks volumes about your character.

Then it could end up as someone else said. I can't keep track of people who change their handles like they do their socks. You have probably had over 200. Why is that? Your opinion of my character is worthless to me or anyone else here. You are buried in an avalanche of hate. Study your own character for once.

>>>>>>>>>>>>>>>>>>>>>>>><<<<<<<<<<<<<<<<<<<<<<

Been there...done that.

You on the other hand are still nursing a resentment based on a false premise, so you think your hate is a kinder, gentler brand.

Your absurd remark about the number of handles I have used reeks of contemptuous sophistry. You know full well why I had more handles than others, but over here, I have only had two. Why is that....?

Bob had a lot of handles over at PNJ also....ditto Teo, Rogue, and countless others including ghandi....you know, the ones you suck up to at every turn.

It's awesome that the other posters elected YOU to speak for them...when was that meeting...?

The cracks in your facade are really showing, and since you do not care what my opinion is, it should be no problem for you to ignore this post.

I remember when i thought you walked tall....now you just barely crawl.

added in edit...

FWIW, I have NEVER seen you so much as object to the sleaze that ghandi posts, including his vulgar lies about others, calling people pedophiles, the "C" word, MF'ers, etc. Ditto the incest/pedo posts from dam eagle.

WHY is that...?

No, you reserve your outrage for me. You are pathetic.

Floridatexan wrote:
The City has had this type of program for many years. It helps first-time homeowners with their down payment. There are many restrictions; I think the new owners must occupy the property for a least 5 years, for one. They end up adding to the tax base and having pride of ownership, while probably paying less than they would in rent. What's the problem?

Why don't we transfer ownership to those in Public Housing for 10+ years? My thoughts are to drive a sense of ownership. Make public housing a condo ownership. Set aside 70% of every public housing complex to the path of ownership.

I doubt the 70% would allow the 30% to ruin the deal. Contract the 70% to pay for destruction of assets. There are many SMART WAYS, why does no-one listen?

I think that the OP of this thread has nothing to do with how much money may be lost to foreclosure etc. It is more about his disdain for the under-privileged and for folks that are at or below the poverty level. His past posts have proven what he really thinks about the less fortunate.

Ghost_Rider1 wrote:I think that the OP of this thread has nothing to do with how much money may be lost to foreclosure etc. It is more about his disdain for the under-privileged and for folks that are at or below the poverty level. His past posts have proven what he really thinks about the less fortunate.

Very well stated and I thank you for your candor. The hate/extremism on this forum is out of control.

When I was newly out of college, I would have loved to have bought a house and could have made the payments, I just didn't have the down payment. I would have scrubbed bathrooms in bars before defaulting.

That said, anyone applying for such a program should have to complete a course on the real costs of home ownership and budgeting.

salinski wrote:For so many reasons. $189,000 loan for low income people. This will ensure that our local forclosure rate continues to climb.

Do you have a window into the future?

You can see the gross ignorance of Ghandi every time he posts. He associates low income people w/ welfare ,living in the projects people. Welfare people would not qualify to buy a house. You have to qualify credit wise and have a job to get these houses but below a certain income. That means these people pay their bills.

Dreamsglore wrote:You can see the gross ignorance of Ghandi every time he posts. He associates low income people w/ welfare ,living in the projects people. Welfare people would not qualify to buy a house. You have to qualify credit wise and have a job to get these houses but below a certain income. That means these people pay their bills.

I can see that by his posts. He must have a mental issue that needs to be addressed.

Watcher wrote:

Dreamsglore wrote:You can see the gross ignorance of Ghandi every time he posts. He associates low income people w/ welfare ,living in the projects people. Welfare people would not qualify to buy a house. You have to qualify credit wise and have a job to get these houses but below a certain income. That means these people pay their bills.

I can see that by his posts. He must have a mental issue that needs to be addressed.

Who's sock are you?