GOOD NEIGHBORS: BP America will contribute $1.1 million to a fund to help low and moderate income families in La Plata County buy homes, the Regional Housing Alliance announced Thursday.
The money will go toward second mortgages for buyers to make up the gap between what they can afford and the cost of entry level houses in the area. The money is expected to help 20 or more families get into homes.
BP, a global energy company, is the area's leading natural gas producer. We're a good neighbor. This is one of the things you do when you operate in a community," said Curtis Thomas, director of government and public affairs in the Rockies for BP.
The mortgage program will be targeted at families that make between 80 percent and 125 percent of the area's median household income, or $49,000 to $78,000 for a family of four.
Those interested in receiving second mortgages through the Regional Housing Alliance should call (970) 259-1418
Reprinted from the Durango Herald-Katie Burford-Staff Writer
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