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ARLINGTON — Four years after moving to Texas from Vietnam, Dan and Thu Nguyen are living in their dream home in southeast Arlington.
The husband and wife, who have one income and two school-age children, said they could never have afforded the $90,000 three-bedroom brick home on Bracken Place without help from the city.They are the first of 50 low-income families the city plans to help become first-time home buyers through a $2 million federal Neighborhood Stabilization Program aimed at reducing foreclosed properties."It’s their dream come true," said the couple’s real estate agent, Cynthia Tran, who helped translate for the Nguyens during an open house Thursday.Thu Nguyen, who is studying to be a nurse at Tarrant County College, said she immediately fell in love with the house near Cravens Park. Using federal stimulus money, the city provided the couple with more than $20,000 for a down payment and costs to reduce the loan principal as well as more than $6,600 to help close the loan.On top of that, the city paid $21,521 for repairs at the foreclosed house, including exterior paint, flooring, windows and fencing. The home had been vacant about six months. "We have seen some declines in our neighborhoods because of the economy," said Councilwoman Sheri Capehart, who attended the Nguyens’ open house. "This is the first success story. We hope we will have several more."About $3.9 billion in federal funding was awarded to states and local governments last year as part of the Neighborhood Stabilization Program, created by the Housing and Economic Recovery Act of 2008. Fort Worth received about $6 million.In Arlington, six other families have closed on homes through the program and 14 families are going through the process, said David Zappasodi, assistant director of community services.The city is working to reduce the number of foreclosed houses in southeast and east central Arlington and is taking applications from qualified families.Zappasodi said the city could hear as soon as next month whether it will receive $5 million more to expand the program.
Find out more For information about the Neighborhood Stabilization Program visit www.arlingtontx.gov/housing
This is the first success story. We hope we will have several more."
Sheri Capehartcity councilwoman
Susan Schrock, 817-390-7639
@Nyx.CommentBody@