SHO History
SHO provides one single point of contact for jurisdictions, real estate owned (REO) servicers and buyers. Each of the 14 participating community development corporations bring a unique strength to the initiative, including:
- Housing Counseling
- Pre-Purchase Education
- Property Rehabilitation
- Lending Services
- Down Payment Assistance
- Geographic Reach
The initiative provides ownership opportunities for buyers that are affordable at purchase and sustainable over the long-term. Arizona has received allocations from the Federal government totaling $121.1 million, $38.3 million directly to the State and the balance of the funds to the nine jurisdictions hit hardest by the foreclosure crisis including: Phoenix, Maricopa County, Mesa, Tucson, Glendale, Pima County, Avondale, Chandler and Surprise. These federal funds emphasize activities targeted to neighborhoods most affected by foreclosures.
The home ownership portion of the funding will be used for turning foreclosed properties into home ownership opportunities for low- and moderate-income buyers (up to 120% of area median income) while mitigating the effect that foreclosed, vacant properties might otherwise have on our neighborhoods.
“I learned so much throughout this program including - how to set goals, the importance of my credit score and its effect on home purchase ability, homeowner insurance, warranties and what to look for in a home. Honestly, I didn’t know much about all of this before I started this process.”
- Christina Sanchez
