Stay in the sticks Sybil. The best thing anyone can do for the City is keep your fat arse out of Mt Pleasant. Keep cheering for tax and spend DEM morons from afar.

broken record, slimey,  

good people.. please disregard slimey's comments.. he is a bit disturbed.

As soon as Key Bank crunches the numbers for a prospective homeowner under this initiative - they'll be running off to Burnt Hills, Glenville....anywhere the taxes are considerably lower.

No way can a middle class family can afford the regular monthly mortgage payment AND an equal tax payment. It's not a reality.

The only way people can afford to move into the City is if property and school taxes come down to a reasonable level. If a taxpayer is forced to pay triple tax amounts of surrounding towns and counties, they better be getting a good school system, safe streets/neighborhoods and some bang for their buck.

Proctors, a bunch of bars and crappy roadways - not worth it.

u make good points,

No one is going to move to schenectady to buy a devalued home that is buried under high taxes. Now it is possible that a middle class slum lord  developer from down state may buy up and fix up some of these dilapidated properties and rent them out to section 8 housing. But I think that has been done before and has only worsened the situation.

  Make "Blinded by the Light!" Schenectady's Theme song?

centralization does not equal downsizing or even value....you are correct--it has NO VALUE....HENCE GREECE....They turned into some lazy a$$ feelgood but dont bother about the logic or reason...someone else will do that....

Let's see if DV will take advantage of this and buy a house in the city for a low price.   After all, he claims the city is improving.  


Let's see if DV thinks buying a house in the city is a good investment.    

If a city---ANY CITY---was getting better, then property values would be increasing so anyone in their right mind would buy a house at a low price because it would be a good investment.

So, let's just see DV put his money where is mouth is.   Low price, low mortgage rates, mortgage 150% of the price.   Sounds too good to be true.   Let's see what he does.   Oh wait, this program isn't for the unemployed, for those without any income.

Plus, DV knows dang well that home values are plummeting and taxes are rising out of sight, and that the vital necessary services in the city are disappearing and the quality of life in the city is getting worse, so he won't buy a house in the city

That idiot has a good deal going. Why would he wreck it?

Quoted Text

The Key to the City program features:

Up to 100 percent first mortgage financing on purchase transactions for 1-2 unit, owner-occupied properties at affordable interest rates, with no private mortgage insurance (PMI) required,

No upfront costs or application fees, unless the loan request is cancelled or denied,

A discount on closing fees with a qualified KeyBank checking account

Buyers must contribute $500 of own funds

Sellers may contribute up to 6 percent toward closing costs or prepaid items on homes with a purchase price of $60,000 and under,

A special Renew-a-Home provision allows financing up to 150 percent of the appraised value, including up to $50,000 for rehab costs when certain criteria is met,

Pre-purchase homebuyer education on home-buying for first-time homebuyers

Voluntary quarterly post purchase follow-up financial education,

No maximum income cap on the purchase of properties in low-income and moderate-income (LMI) tracts. Income for borrowers in middle- and upper-income tracts must be less than 80 percent of the HUD median income which is not adjusted for family size

All credit products are subject to credit approval and product parameters.

http://www.schenectadychamber.com/news/index.cfm#769news

An excellent idea for those that need assistance in achieving the American Dream! Most of America needs some kind of hand up .....Thank you Mr. Mayor -- you have shown what true compassion and common sense is to the NNN idiots!

Working together works! Another nit wit plan from the same that bought you rent free business locations-that no one wanted.

Quoted from 1630

An excellent idea for those that need assistance in achieving the American Dream!

American's need to be reintroduced to the 'American Reality'...The public policy of putting people further into debt so everybody can feel like a 'homeowner' is what has brought America to its knees.  This is more irresponsible economic policy. Building the city on a credit card isn't sound policy.

Quoted from 1630

An excellent idea for those that need assistance in achieving the American Dream! Most of America needs some kind of hand up .....Thank you Mr. Mayor -- you have shown what true compassion and common sense is to the NNN idiots!

SO....the American Dream is ONLY owning a home?????? what a lie to tell the masses.....

the American Dream is MAKING SURE THE GOVERNMENT DOESN'T TREAT US LIKE THE PLEBS OF OLD ENGLAND UNDER KINGSHIP......

you, you , you little jester.....

Can you say another housing bubble.