Stephen Church is a 26-year-old police officer in Annapolis He hails from Baltimore, however, and wants to continue to live here. But how can a man afford a house in the beginning of his career?
Officer Church found a way. Recently he became the first applicant to be awarded a loan in Baltimore City's new $8 million vacant house loan program. His future home, a boarded-up, two-story rowhouse in the 1600 block East 29th Street, still bears the smoky scars of a firebombing. But if everything goes well, Officer Church hopes to move in before the end of the year.
Under the new program, the Baltimore Community Development Financing Corp. will make 30-year loans at 8 percent interest for purchasers wanting to acquire and rehabilitate a vacant city house. There are no income limits and the participants do not need to be first-time home buyers. But they do have to make a commitment to live in the Baltimore house they renovate for at least 10 years.