Agency Honored for Helping Homeowners
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The Los Angeles County Community Development Commission has honored a Long Beach housing agency for its efforts to help the city’s first-time homeowners secure special federal tax credits.
The nonprofit Long Beach Housing Development Co. last year helped 182 people qualify for so-called mortgage credit certificates--three times the total of any other city in the county. Under the federal program, home buyers can receive income tax credits based on their mortgage interest rates.
Company Vice President Diane McNeel said the certificates can also boost borrowers’ income profiles so they can qualify to buy a more expensive home.
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