New program to provide funds to new homebuyers


A new program in Baltimore will be getting $4 million from Wells Fargo.

That money will be used to provide $15,000 in down payment assistance to new homebuyers.

The CityLIFTSM protram will also fund homebuyer education courses in areas that were most impacted by the financial crisis.

The funding from Wells Fargo is part of a larger settlement the mortgage lender agreed to pay over accusations it pushed minorities into subprime loans between 2004 and 2009.

Baltimore is one of 20 cities that will benefit from the $170 million that Wells Fargo will be donating through the Neighborhood LIFTSM and CityLIFTSM program.


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