STATEHOUSE - Rep. Wes Culver announced that more information is available for those wishing to purchase foreclosed homes through the Market Stabilization Program. 

The program offers zero-interest loans for homebuyers who intend to live in a foreclosed home.  The Indiana Housing and Community Development Authority (IHCDA) provides up to $15,000 to assist homebuyers with the acquisition or rehabilitation of a foreclosed residential property located in an area of need.

Rep. Culver encourages potential homebuyers to visit http://www.indianahousingnow.org/, click on "Market Stabilization Program" and enter the address of a foreclosed home they are interested in.  The Web site will determine whether the property is located in a neighborhood approved for the program.  The Web site also contains information on eligible lenders.

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