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Thursday, August 13, 2015

Governor Larry Hogan Announces Maryland Grand Slam


$3 Million Allocated to Encourage Home Buyers
 in Baltimore City
ANNAPOLIS, MD – Governor Larry Hogan today announced Maryland Grand Slam, a $2 million program to build stronger communities in Baltimore through homeownership. These funds will be maximized with an additional $1 million from the City of Baltimore following today’s approval by the city’s spending board. Both state and city funds will provide grants to home buyers purchasing through the Maryland Mortgage Program, the state’s premier home loan product.

The new Maryland Grand Slam will help make homeownership more accessible by offering prospective buyers four ways to reduce the cost of buying a home, including $7,500 in down payment assistance grants. The initiative builds upon the governor’s comprehensive and ongoing efforts to help the city rebound from the civil unrest in April.

“Maryland Grand Slam will help change Maryland for the better by giving hardworking families that extra boost they need to get into the home of their dreams,” Governor Hogan said. “This initiative will revitalize neighborhoods in our state’s largest city while helping families build a lasting financial legacy for their children and their children’s children. A strong housing market is key to a strong economy. This program will help more families become homeowners and will improve our economy.”



Anonymous said...

We want to encourage people to live in a city that is in the self-destruct mode? You're throwing money at a money pit!

First effective steps would be to get rid of the mayor and state's attorney...they have both shown themselves to be incompetent and focused on their own agendas - not the prosperity of the residents!

Anonymous said...

Agree! Spend the $s on a clean up the streets initiative like NYC did

Anonymous said...

It won't make a hill of beans of difference if people can not get loans. These banks have a long history of denying loans to African American communities until the gentrification begins, which I believe started a couple years ago for DC and Baltimore, it just has not been realized yet. They get forced out and the cheap property that they were never allowed to buy, only rent from slumlords for too much money, gets gobbled up by the developers.