TRENTON – The New Jersey Housing and Mortgage Finance Agency (NJHMFA) is hosting a free Housing Expo on May 30 in Atlantic City for potential homebuyers assessing whether they are ready to buy a home as well as for homeowners who may be struggling to pay their mortgage.
The event is open to the public and takes place from 2 p.m. to 8 p.m. at the Claridge Hotel – Conference Center, 123 S. Indiana Ave.
Potential homebuyers can take part in one of two homebuying sessions (2 to 4 p.m. and 6 to 8 p.m.) that will help them determine what they can afford, learn how to apply for a mortgage and find out about other steps in the homebuying process. In addition, attendees will hear about NJHMFA’s downpayment and closing costs assistance program. The open house also enables attendees to stop by throughout the day to meet with and get additional information from lenders, housing counselors, realtors, social service providers and more.
“NJHMFA is well equipped to provide the tools and resources to assist individuals and families at all stages of the homebuying process, including homeowners facing foreclosure. This Housing Expo provides an opportunity to gain first-hand access to these resources,” said Lieutenant Governor Sheila Y. Oliver, commissioner of the New Jersey Department of Community Affairs and chair of the NJHMFA board. “It is the goal of this Administration to make New Jersey a place that all residents can afford. We will continue to provide incentives and reduce barriers to enable New Jerseyans to have a place they can call home.”
NJHMFA’s downpayment and closing cost assistance program provides $10,000 in interest-free, forgivable financing to first-time homebuyers (defined as not having had an ownership interest in a home in the three years prior to the closing date). Veterans are exempt from this qualification.
“As the real estate market rebounds, NJHMFA’s downpayment and closing cost assistance programs are bringing more homeownership opportunities to individuals and families across our state,” said NJHMFA Executive Director Charles A. Richman. “At the same time, we are continuing our efforts to battle foreclosure and to help homeowners save their homes.”
Homeowners having difficulties making their mortgage payments can meet one-on-one during the day with U.S. Department of Housing and Urban Development-certified housing counselors, who will confidentially review their cases, explain options that may be available, and help them apply for assistance through such programs as NJHMFA’s HomeSaver program, which offers up to $50,000 in forgivable loans.
NJHMFA’s previous homebuyer and foreclosure resource events in Atlantic City, Newark, Camden, Paulsboro, Trenton and West Windsor have drawn hundreds of attendees.
NJHMFA receives no state appropriations, and no state tax dollars are used to fund the agency’s downpayment and closing cost assistance program.
For more details or to register, visit http://bit.ly/acmay30regpage
NJHMFA, an affiliate of the New Jersey Department of Community Affairs, is a leader in providing and advocating for affordable housing opportunities. Among its programs, the agency provides mortgage loans and downpayment and closing costs assistance to help homebuyers achieve their ownership dream. For more information on NJHMFA programs, visit www.njhousing.gov.