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The Rosario Family

There were times Eliezer Rosario thought his effort to buy a two-family home in Lawrence would never happen.

He had obtained a MassHousing loan to acquire the property and make significant repairs. He was also eligible for $10,000 from the Equity Builder Program provided by the Federal Home Loan Bank of Boston.

But while reviewing the appraisal of the dwelling, it was determined that the property needed de-leading. MassHousing worked to get Rosario a MassHousing Get the Lead Out Loan through Frank Carvalho at the non-profit Mill Cities Community Investments based in Lowell.

Eliezer was finally able to close his financing and get to work rehabilitating his new home, which had been a vacant eyesore on his Lawrence neighborhood.

"You cannot believe what happened with this house," said Eliezer. "In addition to the financing I got, I put a lot of extra money into the house and now it's a different home. Everyone in the neighborhood is happy."

Mr. Rosario, a bio-medical technician, moved his family into the home after all the improvements were completed.

"I really appreciate what MassHousing did," he said. "There were three or four times I said it's no longer possible to be able to buy this home but my real estate agent kept saying to stick with it. MassHousing really worked through several issues that finally allowed me to complete the purchase."

Mr. Rosario's experience highlights the partnership needed to help qualified low- and moderate-income buyers realize their goal of homeownership. MassHousing worked with the real estate agent, the lender, and the non-profit agency to secure the loan to de-lead the home so that the Rosario's could achieve their dream while restoring a blighted property to improve a neighborhood.

"It really takes a team effort to help our borrowers achieve the step to homeownership," said MassHousing's Mounzer Aylouche. "We have to provide personalized service because each situation is different and by working in collaboration with our lending, real estate and non-profit partners, we have success stories like the Rosarios happening all across Massachusetts. It's very satisfying to see the joy experienced by new homebuyers who realize their dream of buying their own home for their families."