Help coming for hopeful homeowners in Lake Worth

By John Bachman - bio | email

LAKE WORTH, FL (WFLX) - Would you like a refurbished house for 70 grand or how about a three bedroom apartment for just $600 a month?

A local city is getting a lot of help from the federal government to make that happen. Organizers say this 23 million dollar plan has the potential not only to help those who qualify, but also the people who are currently living in the targeted neighborhoods.

"Good is an understatement. I think it's a great idea and I think it's something that's overdue," perspective first time home buyer Taina Toste told us. She came to a meeting where a new plan was rolled out in Lake Worth that could help make her dream a reality.

Almost $8 million of the $23 million will be used to buy and refurbish about 50 foreclosed homes in the city.

"It's really an opportunity to, kind of rebuild the neighborhood and also bring the market prices back up for homeowners in the area, said Suzanne Cabrera, the CEO of the housing leadership council in Palm Beach county. She says the money comes from the federal stimulus package . About $100,000 will be set aside to buy each foreclosed property with another $60,000 available for improvements on each home.

And for Ms. Toste and other low to moderate income family who qualify. It could also mean improvements on their lives.

"I see my self in a bracket where I would definitely need affordable housing so that I would be able to provide that security that I need to provide for my family,' Toste said.

The primary focus area will be near downtown lake worth for more information just you can click on www.lakeworthcra.org.