April 7, 2010

Families Line Up to Claim Deeply Discounted Foreclosed Homes as Harris County H.O.M.E. Program Gathers Momentum

Cindy Gabriel, Public Information Officer
713-578-2215 office
713-320-6018 cell

Eighteen families have acquired new homes while an additional 24 have pending contracts though a program called H.O.M.E. offered by Harris County Community Services. H.O.M.E., which stands for Home Ownership Made Easy provides deep discounts on previously foreclosed homes to qualified buyers in the outlying areas of the county.

“People are continually amazed at the quality of these homes and the neighborhoods they are in. Most of these homes are less than five years old. We’re making sure they are really in great shape and in move-in condition,” said David Turkel, Director of Harris County Community Services.

Harris County Community Services has purchased over 60 foreclosed homes to date. Each week new homes are listed on the H.O.M.E. website for sale at 20% below the County’s purchase price. The program also pays a 3 percent real estate commission and up to 6 percent toward the buyer’s closing costs.

A family of four earning no more than $76,000 who has not owned a home in three years and has good credit is among the likely candidates.

“It’s great to see hard-working, credit-worthy families able to move into these homes. We have families who have gone from small apartments into three and four bedroom houses that are often 40 to 50 percent below their original selling price,” Turkel said.

The goal of the program is to help employed low to middle income people purchase vacant foreclosed homes they can afford; thereby helping to stabilize the local housing costs. As homes are sold, the County will continue to replenish its H.O.M.E. inventory by purchasing additional homes.

The H.O.M.E. program, funded through a HUD Neighborhood Stabilization Grant, is one of five projects being highlighted on the Harris County Community Services’ website: www.csd.hctx.net this week in honor of National Community Development Week, April 4 -10th. We invite you to visit our website, meet the Banda family and see their new home. From there you may follow the link to the H.O.M.E.: www.harriscountyhome.hctx.net website, view the latest homes up for sale and find out if you qualify.