The Texas Department of Housing and Community Affairs Promotes Affordable,
             Accessible and Responsible Home Ownership for Texans

    AUSTIN, Texas, June 1 /PRNewswire/ -- In recognition of the importance of
home ownership and in celebration of National Home Ownership Month, Governor
Rick Perry issued a proclamation declaring June Home Ownership Month in Texas.
Home ownership has long been the cornerstone of the American Dream,
representing more than just a shelter for your family and most valued
treasures. Home ownership is an enduring symbol of prosperity that is achieved
by an increasing number of Texans each year with help from the Texas
Department of Housing and Community Affairs' (TDHCA) buyer education,
counseling and funding programs.
    "Home ownership is often the force that holds neighborhoods together,"
said Edwina Carrington, executive director of TDHCA.  "When the majority of us
own the homes in which we live, households tend to be more stable, schools
perform better, economic opportunities increase and communities become more
viable."
    Last year, home ownership in the U.S. reached a record high of 69 percent.
This figure distinguishes our nation as one of the best-housed countries in
the world.  According to 2004 U.S. Census data, 65.5 percent of Texans are
homeowners.  While Texas is among the states with the 10 lowest home ownership
rates in the nation, Texas' home ownership rate is steadily increasing,
facilitated by homebuyer programs like those offered by TDHCA.
    "Each June during National Home ownership Month, we have the opportunity
to reflect on how home ownership has enhanced our lives and contributed to the
thriving communities we call home," said Carrington.  "With each passing year,
Texas sees its home ownership rate increase as TDHCA's homebuyer programs work
to put more of our neighbors in their own homes."
    As Texas' lead agency for promoting home ownership across the state, TDHCA
focuses on the act of buying a home and helping transform the lives of the
individuals and families who participate in its programs, TDHCA's homebuyer
programs help many low- to moderate-income Texans achieve their home ownership
goals, while educating them about the risks and responsibilities that
accompany those rewards.
    According to data released in February 2005 by Foreclosure.com, Texas
leads the nation in the number of foreclosures -- highlighting the need for
TDHCA to continue educating Texans on the risks and responsibilities of home
ownership while helping them bring their dreams of home ownership to fruition.
Additionally, TDHCA estimates that first time homebuyers represent almost a
third of all home sales in Texas.
    "National Home Ownership Month is also a good time for us to help first
time homebuyers understand the responsibilities that accompany the rewards of
home ownership," added Carrington.  "TDHCA effectively does this through
programs such as the Texas First Time Homebuyer Program, the Mortgage
Certificate Program and our Homebuyer Education efforts."
     Some of TDHCA's key homebuyer assistance programs are described below:

     *  Texas First Time Homebuyer Program: This program offers low- to
        moderate-income households a mortgage loan at a lower interest rate
        than market rate loans, making home ownership more affordable.  Since
        it began in 1981, TDHCA's First Time Homebuyer Program has provided
        more than $2.5 billion to homebuyers at rates unmatched anywhere in
        the state.
     *  Mortgage Credit Certificate Program: The Mortgage Credit Certificate
        program helps reduce the amount of taxes a household must pay, freeing
        up household income for monthly mortgage payments.  TDHCA has issued
        mortgage credit certificates on approximately $70 million in mortgage
        loans under the program since February 2004.
     *  Texas Statewide Homebuyer Education Program: Funded through TDHCA, the
        Texas Statewide Homebuyer Education Program provides training to
        nonprofits and other community organizations at the local level that,
        in turn, deliver pre- and post-purchase counseling to help buyers who
        are pursuing home ownership.  Since 1999, we have delivered 18 "train
        the-trainer" sessions and five continuing education courses.

    About The Texas Department of Housing and Community Affairs
    The Texas Department of Housing and Community Affairs is Texas' lead
agency responsible for affordable housing, community and energy assistance
programs, and colonia activities. The Department annually administers funds in
excess of $400 million, the majority of which is derived from mortgage revenue
bond financing and refinancing, federal grants, and federal tax credits.

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