Saturday, January 19, 2008

Housing Grants and Home Improvement Programs

ASHINGTON, D. C. — U. S. Sen. Richard C. Shelby (R-Ala.) today commented on the Senate’s passage of S. 811, “the American Dream Down payment Act.” The bill authorizes $200 million in grant assistance each of the next four years to low-income, first-time homebuyers.

The grants will be administered through the Department of Housing and Urban Affairs. Senator Shelby said, “One of the many obstacles to achieving homeownership is putting together the money for a down payment. This is especially true for low-income, first time homebuyers. This legislation will help many families that would not otherwise have the opportunity to own a home.”

“I would especially like to thank Sen. Allard for his leadership in introducing this proposal. He has been instrumental in sheparding it through the Committee and the Senate. Sen. Allard truly understands the significance of helping hard working families achieve a piece of the American dream.”

At the current funding level, the program would provide $2.86 million a year for down payment assistance. This would translate to about 570 families achieving homeownership per year under the program.

Billions of dollars are also available to help American citizens purchase homes, rental property, and many other real estate projects. it's part of a joint government and banking initiative to revitalize the economy by making loans more accessible to people previously rejected as a poor credit risk.

Now is the perfect time to start looking for your dream home.

nterest rates are at an all-time 40 year low.

You can obtain the latest information on these and many new programs as well as existing free government grants and loan sources.

If you need money to purchase a home, low interest loans and down payment assistance is now available to you, regardless of your income or past credit history.

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