This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Wells Fargo Brings CityLIFTSM Program To Alameda And Contra Costa Counties To Help Local Housing Market

Wells Fargo, the nation’s largest home mortgage lender, today announced the company’s CityLIFT SM program will launch in Oakland on December 7-8. The CityLIFT SM program provides down payment assistance of $20,000 to eligible homebuyers and homebuyer education programs in areas most impacted by the housing crisis. The CityLIFT SM program is a collaboration between Wells Fargo Bank N.A., city officials in Alameda and Contra Costa counties, NeighborWorks America , and local NeighborWorks affiliate The Unity Council.

The East Bay CityLIFT SM program includes $5 million for down payment assistance grants to help consumers achieve successful, sustainable homeownership. Similar events in Atlanta, Chicago, Houston, Jacksonville, Las Vegas, Los Angeles, Miami, Orlando, Philadelphia, Phoenix, Sacramento, Tampa, Twin Cities, and Washington, D.C. have helped create 785 new homeowners through Wells Fargo LIFT program down payment assistance, with another 546 potential new homeowners in process of closing on a home.

The East Bay CityLIFT SM program will include a free homebuyer workshop on Friday, Dec. 7 from 10 a.m. – 7 p.m. and Saturday, Dec. 8 from 10 a.m. – 7 p.m., at the Oakland Convention Center Marriott located at 1001 Broadway in Oakland.

At the event, potential homebuyers can determine their eligibility for down payment assistance program and reserve funds – of $20,000 – for 60 days for home purchases within the nine East Bay cities, even if they have yet to find a property. In addition, prospective homebuyers may stop by the Wells Fargo Affordable Home Tour SM viewing center to preview featured homes available for sale in local neighborhoods. Self-directed tours are also encouraged.

Prospective homebuyers can register at until Wednesday, Dec. 5 and learn more about the East Bay CityLIFT SM program by calling 1-866-802-0456. Pre-registration is encouraged, although walk-ins are welcome.

Alameda and Contra Costa counties are part of 20 housing markets that will benefit from a total of $170 million Wells Fargo has committed through its LIFT programs (including NeighborhoodLIFT SM and CityLIFT SM ) to support sustainable housing in cities affected by the economic downturn.

“Today, despite low home prices and historically low interest rates, many families are still unable to purchase a home because they struggle with making the down payment,” said Jim Foley, Wells Fargo’s regional president for Greater Bay Area. “The CityLIFT SM program will help address this issue for homebuyers by providing down payment assistance and help revitalize some of our communities in Alameda and Contra Costa counties most deeply affected by the housing crisis.”

“Thanks in part to the combined and dedicated efforts of city, state and federal government, many banks are trying new ways to help homeowners,” said Oakland Mayor Jean Quan. “Among the most exciting of these, locally, is the Wells Fargo East Bay CityLIFT program. The down payment assistance grants of $20,000 for both first time and re-entering homebuyers is a critical tool to helping Oakland and other East Bay residents achieve their homeownership dreams, especially in the wake of the foreclosure crisis. Wells Fargo has been a strong partner in this, and we look forward to how this program and other strategies can help promote housing stability and economic development.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs