New loan program for Bank properties-Silver Lining Program

Dakota County Community Development Agency (CDA) has developed a new program aimed at stabilizing neighborhoods that have experienced higheer than normal levels of mortgage foreclosures- the program is called Silver Lining Loan Program.

this program is available to qualified buyers who purchase eligible bank owned vacant foreclosed properties.

Loans can be used for:

• up to 50% of the required down payment
• payment of normal and usual closing costs
• buy down of first mortgage principal

Max. purchase price- $256,080

Loan limit: $15,000

Contact me for more information on this program or other similar programs available.

Foreclosure Workshop- February 21

Dakota County Development Agency (CDA) is offering a free workshop for homeowners worried about making mortgage payments, already facing Foreclosure, or interested in learning more about Foreclosure.

The event will be on February 21, 11-2, at the Farmington Library, 508 3rd Street, Farmington. This is an open workshop - you can stop by anytime during these hours. For more information you can contact the CDA at 651-675-4555.