News Release

FHA BRINGS THE HOLIDAYS HOME WITH A SPECIAL HOMES SALES EVENT
HUD-owned single-family properties across the country

WASHINGTON - To help increase homeownership opportunities during this holiday season, the U.S. Department of Housing and Urban Development is launching its special "FHA Brings the Holidays Home" sales campaign. This campaign is especially designed for low- to moderate-income families that may believe homeownership is out of their reach, by offering special incentives on the sale of HUD-owned single-family properties across the country.

"Buying a home is always an important event for a family," said Federal Housing Commissioner Brian D. Montgomery. "We want to make the homebuying process even more special this holiday season, by helping more families realize the American dream."

During the "FHA Brings the Holidays Home" sales event, homebuyers who purchase a HUD-owned home and finance the purchase with an FHA-insured loan will be entitled to valuable sales incentives including:

• $2,500 Holiday Home Improvement Allowance
• $500 Selling Broker Bonus
• Minimum Required Downpayment of Only $100

The incentives are effective for HUD homes sold between Friday, December 8, 2006 and Friday, January 5, 2007 to homebuyers who intend to occupy the property as their primary residence for at least 12 months and who do not currently have an FHA-insured mortgage.

In addition to the special holiday sales incentives, buyers may also receive a credit for up to three percent (3%) of closing costs, a benefit HUD provides on most of its home sales.

This special sales offer may not be combined with other HUD discount sales including sales under the Good Neighbor Next Door Program, sales to nonprofit organizations, or sales to disaster evacuees.

More information about this initiative is available by calling 1-800-CALL-FHA, or on the Internet at www.hud.gov and espanol.hud.gov.

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, and 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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