NEWARK, N.J. (PIX11) – People in Newark are getting the chance to buy homes for just $1.
The city is holding its first lottery on Monday to sell city-owned property at City Hall. Anyone who wanted a home needed to pre-qualify for the lottery.
Qualifications for the lottery include being a Newark resident and committing to living in a new home for at least 10 years.
Those who qualified also had to prove they had the money to maintain the homes, as some of the properties needed work.
Applicants are eligible for low-cost mortgages. It's all part of an initiative from Newark Mayor Ras Baraka to close the wealth gap.
To see if you qualify for future lotteries, you can check out the Homeownership Revitalization Program's FAQ.
Erin Pflaumer is a digital content producer from Long Island who has covered both local and national news since 2018. She joined PIX11 in 2023. See more of her work here.
Article From:
pix11.com
English (US) ·