December 28, 2004
SACRAMENTO, CA – Habitat for Humanity® and the California Housing Finance Agency (CalHFA) are teaming up again to provide new housing opportunities for California families in need.
This partnership enables California Habitat for Humanity affiliates to stretch their existing resources, generate more funds, and build more affordable homes that are urgently needed in our state. During December 2003, CalHFA purchased $490,000 of mortgage-backed securities issued by Habitat for Humanity. In this second venture, CalHFA has invested another $262,000 in this vital cause.
CalHFA's latest investment of over a quarter-million dollars will help provide funding to two Habitat for Humanity affiliates in California, including Habitat for Humanity San Joaquin County and Habitat for Humanity South Bay/Long Beach. These affiliates benefit by having immediate access to money they normally would collect over the life of the mortgages.
"CalHFA is constantly looking for innovative ways to help families who need an affordable place to live on terms they can manage," according to CalHFA's Executive Director, Theresa Parker. "We're pleased to continue to partner on this effort with the global, grass-roots organization Habitat for Humanity."
Habitat for Humanity is dedicated to eliminating poverty housing. Founded in 1976 by Millard Fuller, along with his wife, Linda, Habitat for Humanity International and its affiliates in more than 3,000 communities in 92 nations have built more than 150,000 homes to provide families with no-profit, zero-interest mortgages. For more information, visit www.habitat.org.
CalHFA, the state's affordable housing bank, was chartered in 1975 to meet the housing needs of low and moderate income Californians and has helped more than 130,000 families purchase their first home. More information on CalHFA programs is available at 1.800.789.2432 or www.calhfa.ca.gov.
Contact: Ken Giebel
Print Friendly Version (PDF)