BALTIMORE-The state-run mortgage program of Maryland, Maryland Mortgage Program, is offering a new loan product that is intended for residents purchasing new homes for rehabilitating purpose. The acquisition rehabilitation loan will enable eligible buyers to borrow through the MMP for the purpose of purchase, repairs and renovations.
The borrowers can also avail assistance from the state in matters of down payment and settlement costs. The main aim of the program is to bring about stability in the neighborhood. For the full story, go to The Baltimore Sun.
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