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STAMFORD, Conn. Some residents are still having a difficult time paying their mortgages and are being forced out of their homes. The city sees about two foreclosures a week, said Timothy Beeble Stamfords community development director.
That is two families a week losing their homes, Beeble said.
Foreclosures have hit the East Side, West Side and Cove neighborhoods especially hard, he said. Those three areas are entry neighborhoods, he said, and have many first-time buyers who are more vulnerable to losing their jobs and other financial burdens. These problems, in turn, can make it impossible to pay the mortgage.
Beeble represented the city at an informational meeting for Get Home Now! on Wednesday night at the Stamford Government Center. The program aims to help working-class families buy homes left vacant by foreclosures. The program was launched in Connecticut last week.
The city supports several similar programs, including the HOME Investment Partnership Program, which supplies home buyers with down payment loans at zero interest and with no monthly payments.
Beeble, head of the Community Development Office, said the city needs more jobs for people to keep their homes. There is no question if there were more jobs out there people will be able to afford homes, Beeble said as he left Wednesdays meeting.
With more people working in and around Stamford, Beeble believes more people will be able stay in their homes. More people would also move to Stamford and buy homes and reduce the number of empty residences in the city, he said.
How would you improve the housing situation in Stamford? Share your ideas and suggestions below or send them to reporter Anthony Buzzeo at tbuzzeo@TheDailyStamford.com to add to the conversation.
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