A program in Newark looking to add more local homeowners by
selling houses for just one dollar kicks off on Monday
.
The properties have all been seized by the city for non-payment of taxes, bills, or other public debts.
In order to qualify for the “Home Ownership Revitalization Program” potential buyers are required to have lived in Newark for at least five years or be city residents displaced by gentrification. Those who win the lottery must commit to live in the properties for at least 10 years.
The first partner and Program Administrator in the Homeownership Revitalization Program is the Neighborhood Assistance Corporation of America (“NACA”).
NACA provides low-interest mortgages to help people become homeowners and help people in financial distress to stay in their homes.
The lottery was set to begin at the Newark City Hall Municipal Council Chamber at 10 a.m. Monday.
Residents can learn how to apply, or get more information, by calling NACA Newark at 973-679-2601 or accessing the Homeownership Revitalization Program FAQ at