A collaborative partnership gave a blighted New Bedford property new life, and the Walker family a new home.
Samia and Peter Walker had been renting in New Bedford, but were working toward buying a home of their own. By completing a homebuyer class through the City of New Bedford, the couple were eligible to enter a lottery to purchase a formerly blighted home.
The Walkers' new home was originally built in 1845, and mixes Greek and Gothic Revival styles. It had fallen into disrepair before being acquired and rehabilitation by the Waterfront Area Historic League (WHALE) in partnership with the City of New Bedford.
To purchase the home, the Walkers relied obtained a on financing through the Buy New Bedford Program and Bristol County Savings Bank. Buy New Bedford loans combine mortgage financing from community banks with MI Plus Mortgage Insurance from MassHousing, which helps borrowers pay their mortgage in case of job loss.
Samia grew up in New Bedford and works for a medical supply company. Peter, who grew up in Boston and is a stay-at-home father, is the first member of his family to own a home.