FirstBuy is a Government scheme for first time buyers in England helping them get onto the property ladder. Here at Redrow, we have some great news for all those first-time buyers in England who only have a small deposit to put towards their first home. A new government initiative called FirstBuy. Through FirstBuy, you have to find just 4% deposit and a further 20% deposit is paid for you. This is in the form of an equity loan that’s interest free for the first five years – and doesn’t need to be repaid until you sell the property. So, in effect, you have a 24% deposit for your new Redrow Home, which leaves you to take out just a 76% mortgage on the rest of the property. In other words, you get 100% of your new home without having to pay the full asking price up front – which also means lower monthly repayments as well! So, if you need help making your first home more affordable, visit redrow.co.uk to see where FirstBuy is available. And remember — don’t make a move until you’ve talked to us
Indiana Attorney General Greg Zoeller joined state legislators, agency officials and other organizations on March 21, 2012 to announce a new funding stream for the state’s LIHEAP program. Millions of dollars that five mortgage lending institutions are paying Indiana in a multistate settlement of foreclosure abuses will be used to assist low-income Hoosier homeowners with paying utility bills to avoid disconnection. The new stream of funds totaling .8 million stems from Zoeller’s decision to join 48 other states and the federal government in the billion multistate settlement with the five major mortgage lending banks. The agreement that Ally, Bank of America, Citi, JPMorgan Chase and Wells Fargo banks reached has settled a multistate investigation lasting more than a year into the banks’ foreclosure abuses and unacceptable mortgage-servicing practices. The Legislature on March 8 passed House Enrolled Act 1141, which creates a fund to deposit the .8 million in settlement funds Indiana received and distribute the money in increments of approximately million a year.