Program helps home buyers with down payment, renovations

(WMC-TV) - A lawsuit settlement against Wells Fargo Bank may help you or someone you know buy a house. And right now, millions of dollars are available to prospective buyers.

In fact, you may see as much as $4.5 million available through this deal.

According to an article in the commercial appeal, the funds came from Wells Fargo Bank.

It is all part of an agreement city and county leaders reached earlier this year to end a predatory lending lawsuit against the huge company.

As part of a program called "Helping Homebuyers," the money will be used to provide down payment assistance of up to $15,000.

The funds can also be used for home renovation.

As we have reported, the city and county sued Wells Fargo back in 2009, alleging that the bank violated the fair housing act with unlawful, deceptive and discriminatory lending practices.

Now there are some qualifying rules for potential home buyers who apply for the money.

To find out more, you can sign up for a home-buyer workshop Wells Fargo is sponsoring at the Memphis Cook Convention Center.

There are two dates you can attend the workshops - November 30 and December 1.

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