CITY HOLDS 12TH ANNUAL HOMEBUYER FAIR

Chester, PA -- Are you interested in buying a home in Chester but have no idea where to start? Have you found it difficult to save all the money you need for your down-payment and closing costs? Do you own a home in Chester or are looking to purchase one that needs to be improved or renovated and need to hire a contractor? If these are some of the questions you have been asking or you need more information on homeownership, plan to attend the 12^th Annual Homebuyer Fair to get some answers.

Held by the City of Chester, the fair will be held on Saturday, June 5, 2010 at Chester City Hall, 1 Fourth Street, Chester from 10:00 a.m. to 1:00 pm. Registration begins at 9:30 am. The Chester Homebuyer Fair is free and open to anyone interested in buying a home in Chester as well as current homeowners. Refreshments will be served and there will be giveaways. A drawing will be held for two $1,000 grand prizes for a down-payment on a home in Chester and a $250 gift certificate for home improvements.

“Homeownership continues to be one of the City of Chester’s most important priorities,” said Mayor Wendell N. Butler, Jr. “Increasing the number of homeowners in Chester benefits not only the individual families who purchase homes but leads to stronger communities and more stable neighborhoods that benefit all of us. I encourage residents to pursue their dream of homeownership and take full advantage of all the special programs that will make it more affordable for them to own a home in Chester.”

Bankers, mortgage company representatives, insurance agents, lawyers, mortgage counselors, home inspectors and others will be available to explain the process of buying and maintaining a home. The Homebuyer Fair program will begin at 10:00 am with an overview of housing opportunities in Chester. Throughout the morning vendors will have tables in the community room where you will be able pick up information on their programs and products.

There will be individual sessions on the following topics at the 12^th Annual Homebuyer Fair:

Home-buying process – How do you repair your credit, obtain a mortgage and what type of insurance do you need? How do you work with a real estate agent and how can you apply for Chester’s Homebuyer Assistance Program? What are your fair housing rights and what should you do if you believe you are being discriminated against? How should you insure your home?

Home-buying Process – This session will be held in Spanish and will cover the same topics as discussed above.

Homeowners Issues – How do you select and manage a contractor? How can you finance home improvements? How do you manage your finances and how do you shop around for homeowners insurance? How do you avoid high interest loans? Is a reverse mortgage right for you? Do you need to refinance? Do you need help with your monthly mortgage payment?

For additional information, please contact Lisa R. Gaffney, Housing Director, Chester Economic Development Authority, at 610-447-7861.