Community Corner
Non-Profit Again Funding First Time Homebuyers Program in Ocean County
Freeholders help usher in another round of funding to OCEAN, Inc.
A federal program administered by OCEAN Inc. that has already helped 406 families buy their first home is preparing to help 22 more become first time homebuyers during the 2011 fiscal year, according to Ocean County Freeholder Gerry P. Little.
His comments came as county officials approved a $48,000 contract with OCEAN Inc. in Toms River to administer $220,000 in federal funds to help struggling working families own a home.
“They make the mortgage payments…pay taxes, it’s a marvelous program,’’ Little said.
He praised the job OCEAN Inc., and its executive director, Ted Gooding, have done with the program.
Since 1994, when the First Time Homebuyer Program began, it has helped 406 families buy properties worth $58 million. Defaults on the mortgages have been rare, according to Little.
OCEAN Inc. got its start as the county’s anti-poverty program under President Lyndon B. Johnson’s Great Society initiative.
Little said since the program began $3.4 million has been allocated to
operate it .
