News Release

HUD INTRODUCES HOMEOWNERSHIP BASICS ONLINE
Teaching modules will be launched on www.hud.gov and espanol.hud.gov

NEW ORLEANS - The U. S. Department of Housing and Urban Development (HUD) today introduced five, 20-minute computer-based modules designed to help potential homeowners understand the home buying process. The modules were unveiled at HUD's "Owning Your Future", a nationwide outreach effort to showcase the tools and resources families need to gain self-sufficiency and homeownership.

"The importance of homebuyer education cannot be underestimated," explained HUD Secretary Alphonso Jackson. "Often, the home buying experience can be extremely daunting. An understanding of the basics of the process is the key to easing those concerns and anxieties. This computer-based tool will go a long way to educate families about the process."

HUD's homeownership modules not only explain the basics of buying a home, but they also guide the user in understanding what is expected of a buyer and what they should expect from others in the home buying process. The modules, which allow a self-paced learning experience, are as follow: The ABCs of Homebuying, Elevate Your Credit, Easy to Understand Mortgage Programs, Where to Find the Homeownership Money You Need, and Ten Homeownership Facts That Will Save You Thousands.

"In 2002, President Bush challenged HUD to create 5.5 million new minority homeowners by the end of the decade. Just three years later, we are nearly halfway to our goal," Jackson said. "I believe the American Dream is within reach for every family who desires to become homeowners and these education modules will help provide the tools necessary to get them moving in the right direction."

HUD provided participants at today's "Owning Your Future" program with computer disks containing two of the modules. The disks are interactive and take the user to HUD's websites that include all five modules, which are available in both English and Spanish. The teaching modules have been launched on www.hud.gov and espanol.hud.gov.

Jackson said that his vision was to make homebuying information easily accessible so that every citizen who wanted an opportunity to own a home could do so armed with accurate information.

"Because of these modules, homebuying just became easier," Jackson, added.

HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development as well as enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

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