Low income mortgage program in Memphis

[Daniel Weaver]

Read an article today that was interesting. Thought I would share to see what other people thought about this program. 

Article is here: http://memne.ws/2jCsD7

Basically, seems like this new mortgage program will encourage home ownership at sub $50k price points. Could help increase buyer demand, increase appreciation and reduce occupancy costs for those in low paying jobs and C class areas. Seems like a good thing to me, but I'm not currently invested in any of the target areas, so I wondered what the community here thinks. Will this program help, or just go bust?