New Castle County will announce program to combat vacant property issue

    New Castle County, Del.,  will announce today an initiative to tackle its vacant property problem. The Vacant Home Purchase Program will allow qualified buyer to borrow up to $10,000 to purchase a vacant home in an eligible ZIP code, according to the Associated Press.

    Applicants won’t have to be first-time buyers, and if the home remains the buyer’s permanent residence after five years, the initial loan will be forgiven. The money will come from the Department of Housing and Urban Development’s Neighborhood Stabilization program, which is administered by the Delaware State Housing Authority and funded through federal tax dollars.

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