Texas Allocates $255 Million to Home Ownership

Texas is making $255 million in homebuyer funds available to Texans for the purchase of a home.

"Owning a home has always been an essential part of the American Dream. For families, home ownership is not merely a source of pride, it is often the first step on the path to prosperity. And for our communities, home ownership provides an important source of stability," Governor Rick Perry said.

"Research studies show that when a majority of families own the home in which they live, you end up with safer neighborhoods, greater economic opportunities and a stronger sense of community."

The Texas Department of Housing and Community Affairs (TDHCA) will release $240 million in low interest home loans, with approximately $180 million dedicated to purchases in the Hurricane Rita Gulf Opportunity Zone. Borrowers in the Opportunity Zone will pay a low interest rate of 5.875%. They will be allowed up to 5% of the purchase amount through grants for down payment assistance.

The Opportunity Zone residents do not have to be first time home buyers.

There are two loan options for those who purchase outside of the Zone area. The first is an unassisted loan that offers no added funds for down payment and closing costs. The other is an assisted loan with funds offered for down payment and closing costs.

The interest rates outside of the Zone range from 5.625% for unassisted loans to 6.125% for assisted loans.

The TDHCA will put the remaining $15 million into the Mortgage Credit Certificate Program. These certificates are available to eligible homeowners through the First Time Home Buyer Program.

"Today's announcement represents the best opportunity for many low to moderate income Texans to achieve their dream of home ownership," said TDHCA Executive Director, Michael Gerber.

"With 35 lenders participating in our programs, operating more than 300 branch offices throughout the state, Texans everywhere have a chance to begin to make a better future for themselves and their family. We encourage anyone interested in buying a home to learn how they can be a part of this initiative."

Martin Lukac represents RateTake Refinance Rate marketplace. RateTake matches consumers with multiple lenders offering low rates. Got too much credit debt? Get Debt Help and you'd be surprised what we can do together.

Hurricane Katrina - Enduring the Pain

The devastation caused by this disaster: loss of life, separation from family, loss of animals, income, property, and loss of innocence is something I am incapable of handling emotionally and I am not a survivor of this continuing nightmare. It grieves me to think about it so I have substituted prayer and thanksgiving in place of thought. One year later is when I actually saw pictures of the destruction. I provided assistance through United Way Agencies and my church but I didn't care to watch the news reports. I prayed and still do.

WHAT I PRAY

My fervent prayer is that others will not lose faith in God. I pray they will turn to Him if they have not come to know Him. I pray for their souls and strength of mind and body. I pray faith in Him will keep them in perfect peace in the midst of this trial. I pray others will allow His Love to sustain them that they might fight to survive and not give up on Him. I pray those who know and love Him will grow deeper in their faith.

WHY I GIVE THANKS

I am thankful I have a house to maintain; housecleaning chores, roofing repairs, window cleaning, lawn mowing and landscaping, water pressuring the driveway and weeding of flowerbeds to tend. I am thankful I have utilities to pay and clothes to be laundered and dry-cleaned. I give thanks my siblings who live in Florida have not been in harm's way. I am blessed beyond measure and I give thanks. I am careful not to complain, criticize or condemn. "…life for me ain't been no crystal stair1..." but I have had it easy in contrast to these survivors and so many others.

When I do think, I think on all that's good and pleasant in my life. I think of His goodness, grace and mercy. In doing so, I am humbled.

I have opinions about many things but this one thing I know: God reveals His almighty and awesome character to us so we can have an assurance and confidence that only comes from knowing Him. By knowing Him, we know that even in the most darkest, desperate, and discouraging times in our lives, He is up to something good for us all the time.

© 2006 Avis Ward

1Taken from Langston Hughes, "Mother to Son" from Collected Poems (New York: Alfred A. Knopf, 1994).

Avis E. Ward is a visonary called to unite the personal, spiritual and political through Love. She is an Ambassador of Love, Inspirational Speaker, Event Planner and Certified Seminar Leader. Avis is also a Consultant to Dental Healthcare Professionals in Case Acceptance and Marketing. http://avisward.com/ or Avis Ward