You heard it here first!
Affordable loans will continue to be available to Wyoming’s first time home buyers. We will continue to keep you updated as further details become available to us. This short-term initiative may prove to be exactly what we need here in Wyoming to get us through until the housing and bond market have a chance to fully recover
This is the best news I have read all week. Below is the official statement from the Wyoming Community Development Authority.
“Federal Housing Plan Benefits Wyoming Casper – Wyoming’s first-time homebuyers received good news this week. The Administration unveiled the Homeowner Affordability & Stability Plan Monday, Oct. 19. The intent of the new initiative is to stabilize the U.S. housing market by helping to support low mortgage rates for first-time homebuyers and to expand housing resources for low and middle income borrowers that are affordable over the long term. According to David Haney, Executive Director of the Wyoming Community Development Authority (WCDA), Wyoming’s Housing Finance Agency (HFA), this initiative is “great news to anyone in Wyoming who is considering buying their first home.” “We are very encouraged by what we know so far (about the initiative),” Haney said. “Details are still trickling out of Washington D.C., but the bottom line here is that Wyoming’s first-time homebuyers will continue to receive affordable mortgage interest rates. It allows the WCDA to continue to fulfill its mission to provide affordable housing to our fellow citizens.” The Administration’s new plan will allow the WCDA and all other HFAs to re-enter the bond market that was disrupted as a result of the economic collapse of 2008. Administration officials stressed that this initiative is temporary. It is intended to stimulate the housing market as well as the bond market. The philosophy is as private investors re-enter the bond market, the federal government reduces its investment until the market has stabilized to its former level – all at no likely cost tax-payers. For information about the Administration’s Making Home Affordable and the two-pronged Homeowner Affordability & Stability Plan, please log onto http://www.wyomingcda.com and click on the Administration’s “Official Statement” link under the “New HFA Initiative” section. You can also contact the WCDA at (307) 265-0603.”