Realtor: Use Section 8 vouchers to turn renters into homeowners

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Federal Section 8 vouchers shouldn’t be limited to helping low-income families pay their rent, a South Bend, Ind., Realtor says. Steve Weldy of Weichert Realtors  is trying to convince the city’s Housing Authority to participate in a Department of Housing and Urban Development program that allows Section 8 vouchers to be used to make a percentage of mortgage payments.

Since 2002, HUD’s Homeownership Voucher Program has helped facilitate more than 20,000 closings, including 1,514 home sales in 2012.

South Bend has a glut of vacant and abandoned homes, and Councilman Henry Davis Jr. tells the South Bend Tribune that Section 8 homeownership vouchers have helped other cities deal with such challenges. Source: southbendtribune.com.