| HUD No. 06-097 Lemar Wooley (202) 708-0685 |
For Release Thursday August 17, 2006 |
FHA EXPANDS OUTREACH TO FIRST TIME AND MINORITY HOMEBUYERS
New campaign to run in 27 markets nationwide
WASHINGTON - The Department of Housing and Urban Development's Federal Housing Administration (FHA) is expanding outreach to first time and minority homebuyers by launching a newspaper-based ad campaign in 27 markets nationwide. The objective of the outreach campaign is to increase awareness of the quality and affordability of FHA products and services to low and moderate income, first time, and minority homebuyers. The campaign also focuses on the dangers of predatory lending and the protective nature of FHA products.
FHA was created in 1934 to give homebuyers access to reasonably priced mortgages under fair terms. Over the years, it has helped more than 34 million families become homeowners. This campaign is part of HUD's continuing effort to meet the President's challenge to create 5.5 million new minority homeowners by the end of the decade. Since the challenge was initiated in June 2002, more than 2.7 million minority families have joined the ranks of homeowners.
"We want to spread the word that FHA mortgages are a safe, viable option for first-time homebuyers - said Federal Housing Commissioner Brian D. Montgomery. "Since the homeownership rate for minorities lags behind the average homeownership rate, we are trying to reach as many minorities as possible in this campaign."
The 27 markets where the ads will run include: Baltimore, MD; Birmingham, AL; Boise, ID; Charlotte-Gastonia-Rock Hill, NC; Cleveland, OH; Dallas, TX; Dayton, OH; Des Moines, IA; Grand Rapids, MI; Greenville-Spartanburg, SC; Hartford, CT; Jacksonville, FL; Kansas City, MO; Las Vegas, NV; Little Rock, AR; McAllen, TX; Nashville, TN; Newark, NJ; New Orleans, LA; Phoenix, AR; Pittsburgh, PA; Portland, OR; Richmond, VA; Riverside-San Bernardino, CA; Salt Lake City, UT; San Juan, PR and Tulsa, OK.
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 and espanol.hud.gov.
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