CPA Projects – Detailed Report

The Veterans and Working Families housing is a first time home buyers program designed to help families purchase single family homes in Randolph in order to stabilize and reinvest in the Town’s housing stock.  All single family homes are eligible for the program; however, the program has increased financial incentives for foreclosed single family homes either already foreclosed upon or in the process of being foreclosed.  Short sale homes also have increased financial incentives in order to prevent the home from falling into foreclosure. 
 
 This is a groundbreaking program in Massachusetts in that it targets families that may have a past or present connection to the Town of Randolph and who make at least 80 percent of median family income up to 100 percent of median family income according to the most recently published Department of Housing Urban Development guidelines.  These families are the forgotten folks who are struggling to have a piece of the American Dream.  Applicants will be entered into a weighted random lottery for those who meet program requirements.  It is the Town’s expectation that people who participate in the program will make improvements to foreclosed or short sale homes that have fallen into disrepair and bring the home back to community standards in order to stabilize a neighborhood.