County effort encourages home ownership

10:33 PM, Jun. 24, 2011

Land bank helps homeowners

Ingham County Land Bank's plan to let qualified homeowners buy fixer-upper houses is a sound one.

The new program will let buyers purchase on a land contract, but offer credits of up to half the purchase price for repair work and energy-efficiency improvements designated at the time the contract is signed.

Buyers have to agree to occupy the homes and to sell them to another owner-occupant when they leave.

The land bank usually does fixup itself on homes that are in good enough condition; it demolishes those that aren't. But with some 600 homes in the land bank, some new ideas, such as this Property Rehabilitation and Ownership Program, are needed.
Potential homeowners willing to trade some sweat equity for a better bargain can find out more at www.inghamprop.org.

WLNS