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More Than 1,000 Potential Homebuyers to Attend CityLIFTSM Event – a New Initiative Designed to Boost Homeownership

CityLIFTSM program will offer down payment assistance grants of $20,000 per qualified homebuyer; $7 million in grants and program funding to help new homebuyers in Washington, D.C. and Prince George’s County.

WHO:

More than 1,000 potential homebuyers expected to attend the free 2-day event

WHEN:

Friday, Oct. 5, 2012 from 10:00 a.m. – 7 p.m. and

Saturday, Oct. 6, 2012 from 8 a.m. – 5 p.m.

WHERE:

Walter E. Washington Convention Center

801 Mount Vernon Place NW

Washington, D.C., 20001

WHAT:

CityLIFTSM program will launch with a free two-day event for prospective homebuyers interested in purchasing a home in DC or Prince George’s County, Maryland. The program includes $7 million in down payment assistance grants for Washington, D.C. and Prince George’s County and is intended to help revitalize neighborhoods through an innovative sustainable housing program. Prospective homebuyers may qualify for $20,000 in down payment assistance which may be applied to a mortgage purchase with any lender.

In addition, prospective home buyers will be able to take advantage of home buyer education sessions and tours of selected residential properties that are available for sale in DC and Prince George’s County.
Wells Fargo is collaborating with the Mayor of D.C., County Executive of Prince George’s County and the non-profit organization NeighborWorks America and its local affiliate, Manna, to implement the program.

The CityLIFTSM program is modeled after Wells Fargo’s highly successful NeighborhoodLIFTSM program, the first of its kind in the banking industry. The NeighborhoodLIFTSM program is a collaboration between the Wells Fargo Foundation, NeighborWorks America, an independent non-profit organization, and local non-profit organizations.

The CityLIFTSM program is designed to provide down payment assistance and homebuyer education programs in areas most impacted by the financial crisis. The program was developed in connection with the 2012 settlement with the U.S. Department of Justice, and is a collaboration between Wells Fargo Bank N.A. and NeighborWorks America.

COVERAGE INVITED.

Wells Fargo
Michael McCoy, 202-303-3029

Source: Wells Fargo Bank N.A.