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AMERICAN DREAM PROJECT HELPS FAMILIES FIND AFFORDABLE HOMES

The dream of owning an affordable home will once again come true for selected Salt Lake families this year through a joint public/

private partnership of the Salt Lake Board of Realtors and the Salt Lake County Housing Authority.The American Dream project allows people who meet certain criteria to buy refurbished houses with discounted mortgage loans that result in lower than normal monthly payments.

Interested parties are required to attend an open house on Saturday, March 14, 11 a.m. to 3 p.m., at the home currently being offered at 3328 South 7580 West, Magna.

At that time, potential buyers should fill out an application and register for a drawing. Several days after the open house, 10 names will be drawn and the selected parties contacted. The first family that meets the qualifications will be referred to Zion's Mortgage Co. to apply for a discounted loan.

The selected homes are initially located by the Housing Authority through a list of vacated houses provided by U.S. Housing and Urban Development (HUD). The Board of Realtors then buys the property and enlists support of the Homebuilder's Association of Greater Salt Lake to make repairs and renovations.

A list of qualifying criteria is available at the open house. Families are given priority and gross monthly family income should be at least $900 with a recommended maximum for a family of four at $2,379.

For more information, contact the Housing Authority at 487-0191. Applications are available prior to the open house at the Salt Lake Board of Realtors, 2970 East 3300 South, or at the Authority, 1962 South 200 East.