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REAL ESTATE BRIEFS

Educators Receive Mortgage Assistance

April 29, 2001|Diane Wedner

A group of Southland educators are about to unpack some boxes, but not in their classrooms. They are gearing up to move into their new homes, thanks to assistance from the Teachers Home Mortgage Program.

The homeownership program, which was funded last summer by the statewide Extra Credit Teacher Home Purchase Program, provides $7,500 in assistance to credentialed public school teachers, vice principals and principals who agree to work at schools the state has rated as low-performing.

The 25 educators were the first to qualify for some of the $7.5 million awarded to Los Angeles County by the state. Demand has been so high for applications to the first-come, first-served program, that the county has applied for additional funds.

The income limit for a one-or two-person household is $62,520, and $72,940 for households of three or more people.

The county-supervised teachers homeownership program is not affiliated with the recently suspended Teacher Next Door program, a federal program administered by the Department of Housing and Urban Development.

For information about the Teachers Home Mortgage Program, call the Home Financing Authority information line at (323) 890-7249, or visit the Los Angeles County Community Development Commission's Web site at http://www.lacdc.org/schfa/teachers.

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