NEW YORK REGION | October 6, 2006
Manhattan: Helping Teachers Buy Homes <>
Two banks, the teachers union and a community organization, Acorn, announced yesterday what they described as a new program offering low-cost mortgages, grants for down payments and closing costs, and other assistance to help New York City school teachers buy homes in the city. Officials from Citibank, Bank of America, the United Federation of Teachers and New York Acorn said they were loosening the eligibility guidelines for several home-buying assistance programs. That would enable teachers making as much as 165 percent of the area median income, or $117,000 for a family of four, to qualify for low-interest