East Valley home program started
With foreclosures threatening to deteriorate east San Fernando Valley neighborhoods, a new no-interest-loan program designed to boost first-time homeownership has been launched with some help from the city.Daily News.
The Los Angeles City Council has approved a $2 million program to provide financial assistance of up to $75,000 per buyer in the redevelopment area covering the East Valley.
"The American dream has turned into the American nightmare and bold steps need to be taken to help right this ship," said Councilman Richard Alarcón, whose district is within the area, along with that of Councilman Tony Cardenas.
About The
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Los Angeles Daily News City Hall reporter Rick Orlov writes about politics on the local, state and national stage.
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