Framingham homes to be sold to those in need

FRAMINGHAM, Mass. -- As foreclosures rise, Framingham has purchased and refurbished three foreclosed homes and is preparing to sell them at affordable prices to those in need.

A year ago, a three bedroom home in Framingham was in foreclosure and neglected, but now the Framingham Housing Authority has renovated it inside and out and will sell it in a lottery for $225,000.

“The person that moves in has nothing to do, they’re absolutely beautiful inside. They are encouraging some first time home owners to purchase, who are basically out of the market right now,” said Rosemary Garneau from the Framingham Housing Authority.

It’s one of three homes Framingham renovated for its neighborhood stabilization program funded by federal stimulus money.

One of the homes will be sold in the lottery for $217,000, and a two bedroom condo for $75,000.

“This includes a lot of other people who normally wouldn’t be included in lotteries. For a family of four that’s $110,000, so that’s a decent income, so that will include a lot of people” said Garneau.

Framingham officials started the program after witnessing 400 foreclosures since 2008. This, they said, is a way to stabilize neighborhoods hit hard by the recession.

“All the properties that the town has acquired and renovated have physically improved the neighborhoods, and from what we hear from the neighbors they are happy that the local eye soar is being removed and upgraded, and that a new family will be moving in soon,” said Gene Kennedy from the Framingham Community Development.

Applications are now being accepted for the lottery. The deadline is September 29, and the actual lottery will take plane on October 5.

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