The City of Norwalk is reopening a waiting list for potential first-time homebuyers interested in purchasing a single-family house in Norwalk. To be included on the waiting list, buyers must submit a completed application to the Housing Authority by 5 p.m. on Friday, October 8. Applications are available for pick up at the Housing Authority located at 12035 Firestone Blvd. and for download at www.ci.norwalk.ca.us.
For this program, the City of Norwalk is purchasing foreclosed and abandoned homes, rehabilitating them, and reselling them to qualified low-income buyers. Only a limited number of homes will be available for purchase. Applications received by October 8 will be entered into a lottery. Norwalk residents will receive preference on the waiting list. Applicants are required to make a minimum 1 percent down payment and acquire a 30-year fixed rate mortgage from a lending institution of their choosing.
The Homebuying Program is made possible by a grant from the Neighborhood Stabilization Program as part of the economic stimulus act. The purpose of the grant is to stabilize communities that have suffered from foreclosures and abandonment through the purchase and redevelopment of foreclosed and abandoned homes and residential properties.
For more information about the Homebuying Program, please call the Housing Authority at (562) 929-5588.