From:                              Cindy Brown []

Sent:                               Friday, May 14, 2010 10:24 AM


Subject:                          pre-purchase housing seminar press release


Fayette County Community Action Agency, Inc.

N E W S   R E L E A S E

(724) 437-6050



FOR IMMEDIATE RELEASE:        Contact: Cindy Ekas-Brown

May 10, 2010                                     PR/Outreach Specialist                                                                                             (724) 437-6050, extension 4276


                                   FCCAA to hold pre-purchase housing seminar


People who are interested in buying a home will find the information they need at a pre-purchase housing seminar, which will be held from 4:30 to 8:30 p.m. Tuesday, June 8, at Fayette County Community Action Agency Inc. (FCCAA).


The seminar will take place in the agency’s administrative building, located at 108 N. Beeson Ave., Uniontown.


Rita Masi, FCCAA’s housing project manager, said lenders and realtors will discuss topics, such as the advantages of homeownership; finding and choosing a home; budget planning and record keeping; mortgage qualifying; the beginning of the purchase process; the loan application process; and closing on the loan.


A 15-minute DVD titled “Buried in Debt” will be shown at the seminar to warn potential home buyers about the dangers of borrowing too much money, Masi said.


A representative from USDA Rural Development will discuss rural loans and home purchasing. Masi said lending institutions will provide participants with information on conventional loans and Federal Housing Administration (FHA) loans.


A local realtor will explain the home buying process from looking for a home to closing on the loan, according to Masi.


A representative of Threshold Housing Development Corp. located at 55 N. Beeson Ave., Uniontown, will discuss new housing construction and renovation projects.


“Families participating in a mutual self-help project perform approximately 65 percent of the construction labor on each other’s homes under qualified supervision,” said Ken Klein of Threshold Housing Development Corp.


“The savings from the reduction of labor costs allows otherwise ineligible families to own their own homes,” he added. “If families cannot meet their mortgage payments during the construction phase, the funds for these payments may be included in the loan.”


For more information about the housing seminar or to register, call Masi at 724-437-6050, extension 3247.