The U.S. Department of Housing and Urban Development Neighborhood Stabilization Program has recently awarded money to many municipalities in Palm Beach County. The purpose of the program is to give state and local governments money to buy and fix up abandoned and foreclosed homes in order to sell them to low- and moderate-income buyers. According to a recent Palm Beach Post article, through this program Wellington was awarded $750,000, Boynton Beach was awarded $2.9 million, and Lake Worth received $23.2 million.

Interest in the program is strong among homebuyers and the amount of people interested in purchasing a home is predicted to be far greater than the amount of homes available. Not everyone qualifies to purchase a home through this program however. Credit requirements are determined on a case-by-case basis and buyer's income cannot exceed 120% of the area's median income. Additionally,  buyers must complete eight hours of HUD-approved housing counseling. The additional restrictions should narrow the pool of buyers qualified to purchase homes under this program.

Residents interested in applying to buy a home through Wellington's program can call Christina Hewitt at Neighborhood Renaissance at (561) 832-6776, Ext. 104.