A WRAL News investigation found that includes many of those who qualify for help as first-time buyers.
ON HULU AND THE WRAL APP ON YOUR TV OR STREAMING DEVICE. >> PROGRAMS DESIGNED TO HELP FIRST-TIME HOMEBUYERS AND WAKE COUNTY ARE STRUGGLING. NOT BECAUSE OF A LACK OF MONEY. >> INSTEAD, THEY CAN’T GIVE IT AWAY. WRAL INVESTIGATES CULLEN BROWDER SHOWS US WHAT’S COSTING POTENTIAL BUYERS, THOUGH, THROUGH THE EXPERIENCE OF ONE OF OUR WRAL COLLEAGUES >> AS A WRAL NEWS PHOTO JOURNALIST SEAN BRASWELL HAS HELPED TELL MANY STORIES ABOUT THE TRIANGLE’S EXPLODING HOUSING MARKET. AND I WAS LIKE, WELL, YOU THE IDEAL BECAUSE I HAVE FAMILY HERE THIS HOUSE. BUT AS A PROSPECTIVE HOMEBUYER, HIS PERSONAL STORY TOOK TURNS. HE NEVER ANTICIPATED. I KNEW IT WAS GOING TO BE A CHALLENGE. >> BRES WELL, AS RESEARCH TURNED UP TENS OF THOUSANDS OF DOLLARS IN GOVERNMENT ASSISTANCE, STATE COUNTY AND CITY, 0 INTEREST LOANS BECAUSE IT WAS A FIRST TIME HOMEBUYER MAKING UNDER 80% OF THE AREA MEDIAN INCOME. I WAS OVER THE MOON. I WAS LIKE $60,000 THAT HE SOON FOUND MARKET FORCES PUSH THAT FINANCIAL AID OUT OF REACH. I WENT FROM BEING REALLY COMPOUND, FIND A HOME TO THE EXACT OPPOSITE THAT THERE’S NO WAY TO BE ABLE TO UTILIZE THESE PROGRAMS AND GET A HOME. THE REASON RESTRICTIONS ON THE ASSISTANCE HOMES, MOST COSTS AND AROUND $300,000 AND HAVE NEWER RUSIN AC UNITS. THE LOCAL NONPROFIT GUIDING HIM DHI SEE INFORM BRASWELL. HE ALSO COULDN’T GOOD OVER ASKING PRICE COMMON FOR COMPETITION IN THE RECENT MARKET. >> ONE MORE ROADBLOCK. ONE MORE HICCUP ONE MORE JUST WOW. I DON’T WANT TO. >> SHOOTING SOMEBODY IS DREAMS DOWN. BUT I’M ALSO LOOKING AT THE HOUSE SAYING THIS IS GOING TO HAVE MULTIPLE OFFERS WITHIN 3 HOURS. SO YOU’RE NOT GOING TO BE ABLE TO COMPETE TO BE PARTLY A IS BRES WELLS REAL ESTATE AGENT. I THINK THESE PROGRAMS SOUND AMAZING. YOU KNOW, AND IF IF A BUYER CAN JUST GET THE MONEY DHI, SEE RECORDS SHOW 121 WAKE COUNTY BUYERS BENEFITED FROM THE HOUSING HELP IN 2019. >> BUT AS THE MARKET CAUGHT FIRE, THE ASSISTANCE COOLED TO 111 2074 IN 21. AND JUST 15 SO FAR THIS YEAR. >> IT’S A FRUSTRATING TO YOU THAT YOU’VE GOT THIS POOL, BUT WE CAN GET IN MANY CASES THAT CAN BE USED TO. ABSOLUTELY. IT’S EXTREMELY FRUSTRATING. MARK ROMAN LEADS WAKE COUNTY’S EQUITABLE HOUSING AND COMMUNITY DEVELOPMENT DIVISION WHICH PAYS OUT SOME OF THOSE IT JUST SPEAKS TO THE DIFFICULTY THAT ARE POTENTIAL BARS ARE FACING AND JUST GETTING SOMETHING UNDER CONTRACT. THEY FACE A LOT OF AND SIMPLY GETTING TO THE CLOSING TABLE. AND SO IT’S FRUSTRATING FOR US. IT’S FRUSTRATING FOR THEM. >> CLEARLY STUNG BY THIS HOT HOUSING MARKET. PERNELL SAYS WAKE COUNTY IS NOW MAKING CHANGES TO THE PROGRAM. THAT INCLUDES LIFTING THE CAP ON PURCHASE PRICE DEPENDING ON THE BAR WERE ADJUSTING DEBT TO INCOME RATIOS AND POSSIBLY INCREASING WAKES $20,000 LOAN LIMIT. AT THIS POINT, WE ARE TRYING TO BE NIMBLE. THIS REALLY TICKED ALL MY BOXES. >> I’M PERSONALLY AND WITH THE PROGRAM’S AFTER ALL THE HURDLES, BRASWELL THOUGHT HE WON OUT ON THIS HOME. >> UNTIL A RALEIGH LOAN REQUIREMENT FOR A CITY INSPECTION LED TO THE SELLER’S REJECTION. STANDING OUTSIDE THIS HOME. BUT I REALLY WANTED I’M A LITTLE HEARTBROKEN AND ANGRY THAT HOUSING ASSISTANCE PROGRAMS DESIGNED TO HELP HIM DID. I AM WHO THESE PROGRAMS ARE MADE FOR >> SO I’M ALL FIRED UP. HONESTLY. CULLEN BROWDER, WRAL NEWS, RALEIGH. >> ONE OF SO MANY STORIES JUST LIKE IT BECAUSE OF THOSE. >> ASSISTANCE ROADBLOCKS AND THE RISING INTEREST RATES. SEAN HAS DECIDED TO PUT HIS
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