FHA 80th Anniversary Recognizes New Louisville Homebuyer

Homebuyer Myra Woodard and HUD Southeast Regional Administrator Ed Jennings, Jr.

Government officials, partners, the homebuyer's daughter, and other family and friends celebrate the FHA 80th Anniversary with homebuyer Myra Woodard.

HUD Southeast Regional Administrator Ed Jennings, Jr., Congressman John Yarmuth and a host of partners and stakeholders joined Federal Housing Administration (FHA) homebuyer Myra Woodard at her new home to celebrate the 80th Anniversary of FHA (https://www.facebook.com/HUD/posts/10152512228916955).

Ms. Woodard recently became a homeowner in the Shively area of Louisville as she finally achieved her dream of home ownership. It was a long, hard struggle for her to transition from public housing to homeownership, but with the support of the Louisville Metro Housing Authority (www.lmha1.org/) and HUD Family Self-Sufficiency Program and HUD-approved housing counseling her dream has become a reality.

"Thank you for assisting me to receive the FHA loan...It was not the services alone that made such an impact on my life," said Woodard. "It was the torch of support, compassion, understanding, and encouragement that was passed through each individual and service."

"Stable housing is the foundation of a strong family and a growing economy," said Congressman John Yarmuth (KY-3). "For more than 80 years, FHA has helped tens of thousands of Louisville families establish that foundation, providing access to quality, affordable housing and enriching our entire community."

"The 80th Anniversary of FHA is quite the milestone as it serves to remind us of its critical and longstanding role in providing affordable homeownership opportunities to responsible homeowners and their families" said Jennings. "FHA has and continues to play an essential role in Louisville and other communities throughout the Commonwealth of Kentucky and our nation in providing the opportunity to achieve the American dream of homeownership."

"Since 1921, the Louisville Urban League has assisted disadvantaged people attain social and economic stability and prosperity," said Benjamin Richmond, Louisville Urban League Executive Director and President of REBOUND. "Through our Center for Financial Empowerment and our housing development arm REBOUND, Inc., we have assisted families such as Ms Woodard to move from rental to their ultimate dream of homeownership. We are honored to be one of the partners collectively making a positive change for families in our community."

FHA has opened doors to homeownership for over 40 million families since 1934 - giving them an affordable way to build wealth and plant roots in their community - nearly 7 million of those just during this most recent crisis alone. In 2013, FHA insured more than 1.3 million loans. More than 700,000 were for home purchases, with nearly 80 percent of those for first-time homebuyers. In the Commonwealth of Kentucky over 390,000 families in the last 80 years had the door to homeownership opened to them thanks to FHA and HUD. Today, FHA plays an important role in making mortgage credit available and has supported creating inclusive communities.

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