Newspaper article Sarasota Herald Tribune

Wells Fargo Grants to Help Home Sales

Newspaper article Sarasota Herald Tribune

Wells Fargo Grants to Help Home Sales

Article excerpt

Wells Fargo & Co. will hand out grants of up to $15,000 to prospective home buyers to help four Florida cities -- Tampa, Miami, Orlando and Jacksonville -- stabilize neighborhoods affected by the foreclosure crisis.

A spokeswoman for the San Francisco-based bank said Wells Fargo has yet to determine whether it will roll out the program in any other Florida communities.

"Overall, it is to help the housing crisis as a whole," spokeswoman Kathy Harrison said.

This latest initiative is one of several by major lenders that have emerged in recent months.

Last month, Sarasota Realtors received a promotion from Bank of America pitching its relocation assistance program designed to help homeowners who are underwater on their mortgages. The homeowners have to agree to participate in a short-sale program with a pre- approved price. In return, they can be eligible for $2,500 to $30,000 in relocation assistance, known in the trade as "cash for keys."

For the Wells Fargo program, a prospective buyer has to be a Tampa resident and be buying within city limits. …

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