People willing to buy foreclosed homes in Redmond or La Pine could be eligible for some financial help.
The federal funds are available to help qualified people become homeowners and help remove some of the foreclosed homes from the local markets. La Pine Mayor Ken Mulenex says he hopes more people take advantage of the funds. “So you get someone who qualified and they're able to buy a home. Here is 20% down, no interest, no payments until the house is sold again. It really makes a great opportunity for someone looking for a house.”
La Pine and Redmond qualified for the federal funds because of their high unemployment rates. It's hoped the program will help shore up property values and prevent blight areas with so many foreclosed homes. The program area is being expanded in these communities to get more people to take advantage of it.