Request approval to amend ONE ( 1 ) "Homebuyer Assistance Program ” Contract for a client previously approved under the Home Program.

The Hidalgo County Commissioners’ Court approved Mr. Victor Yanez for a closing cost/down payment assistance grant in the amount of $7,500 on January 6, 2009.  Since then, Mr. Yanez was able to acquire a loan with a lower interest rate and payment through AA Genesis Investments. The Urban County Program processed a re-certification on April 16, 2009 due to the change in loan terms.  Recently, the U.S. Department of Housing and Urban Development (HUD) released new income limits for fiscal year 2009.  Due to this change, it has been determined that Mr. Yanez now qualifies for a deferred grant amount of $10,000.

The Urban County Program respectfully requests approval to amend contract with the new deferred grant amount. 

APPLICANT	FUNDING YEAR	GRANT AMOUNT	LENDER	LEGAL DESCRIPTION
VICTOR YANEZ	FY 2005	$10,000	FNB/Donna Housing Authority	LOT 114 WEST DONNA ESTATES NO 2 DONNA TX