VHFA has listed for sale a home at 1157 Vt. Route 302, Orange. The price for the three-bedroom, one-bath house is $119,000, after a $71,000 grant.
This house is the latest to come through the Housing Acquisition & Rehabilitation Program (HARP), where VHFA acquires foreclosed properties from banks, renovates them, and resells them to income-eligible Vermonters.
The Vermont Economy Newsletter released its annual housing affordability analysis yesterday.
Art Woolf, the report's author, states
Vermont's housing affordability improved in 2010 for the fourth consecutive year, making last year the 5th most affordable year in the 24 years he's published the report.
Woolf cites decline in mortgage rates, combined with slightly higher incomes, as the primary driver. But, he writes, higher home prices reduced affordability.
The State of Vermont’s Department of Economic, Housing and Community Development (DEHCD) will conduct a public hearing to receive comments on its proposed HUD Consolidated Plan 2011 Action Plan.
The hearing will take place Friday, March 25, from 2-3 p.m. in the Calvin Coolidge Room, at the National Life Building North Lobby, Sixth Floor, Montpelier.
Vermont Attorney General William Sorrell is warning about companies preying on Vermonters in financial distress by offering useless or non-existent "assistance" with settling credit card debt or rescuing mortgages in foreclosure.
"Many companies marketing these services to Vermonters are not licensed in Vermont and perform little or no meaningful service for the thousands of dollars they charge," Sorrell says.
"While our office has aggressively pursued the unlicensed companies we learn about, many more are in contact with Vermonters each day. If you are seeking assistance with managing your debts or mortgage, make sure you are doing business with a company licensed in Vermont."