Have we heard this pipe dream before?-----State puts $7,500 on table for first-time, move-up home buyers

State puts $7,500 on table for first-time, move-up home buyers | MLive.com:
GRAND RAPIDS, MI – First-time home buyers can get up to $7,500 toward a down payment and closing costs, thanks to a couple of programs offered by the Michigan State Housing Development Authority.
The MI First Home program also is available to past homeowners who lost their homes to foreclosure and have restored their credit for at least three years, according to Mary Townley, MSHDA's director of homeownership.
The program, which is funded through the sale of bonds, is enjoying a resurgence in the past two years as the state's housing market recovers and its residents re-enter the housing market after The Great Recession.
...While homebuyers welcome the extra cash at closing, it's not costing the taxpayers anything, Elsenheimer said.
Money for the program is raised through the sale of tax-free bonds by the state.
MHSDA also is promoting a program called MI Next Home, which puts up to $7,500, or up to 4 percent of the sale price, on the table at the closing for qualified homeowners who need the cash to make the leap to a new home..."