HUD Education Class Offered in Las Vegas This Saturday

Las Vegas, NV, April 16, 2009 --(PR.com)-- For homebuyers interested in learning more about how the federal government’s Housing Recovery Act can help them, Prudential Americana Group and Housing For Nevada are providing a solution. The real estate firm’s Nancy Storey Team has partnered with the statewide homeownership program to teach HUD-approved education courses. The courses, led by Housing for Nevada president John Smith, are a prerequisite for homebuyers to apply for HUD’s down-payment assistance programs.

“In May, the federal government will release nearly $19 million in Southern Nevada to launch the Neighborhood Stablization Program,” said Mark Stark, CEO of Prudential Americana Group. “The grants will be given to municipalities which will use them to help control neighborhood abandonment and blight. Among the uses for this money is down-payment assistance for first-time and entry-level homebuyers.”

Co-sponsored by Prudential Americana Group’s Nancy Storey Team and Housing For Nevada, the HUD-approved course will be held from 9:30 a.m. to 3 p.m. on Saturday April 18 at Prudential’s corporate office. The office is located at 2140 E. Pebble Road, Suite 160. To RSVP, email nancys@americanagrp.com or call 702-812-2520 with your name, phone number and email address.

Among the general guidelines set forth in the Neighborhood Stabilization Program are:

Homebuyers must complete HUD approved 8 hour First Time Homebuyer Education Program and receive one-on-one counseling
Buyers must meet income and minimum investment requirements
Must be foreclosed property in targeted area (Las Vegas, North Las Vegas and Henderson)
Money available in form of a grant can be used for mortgage buy down, down payment, closing costs and rehabilitation
Prospective home must be owner occupied
Prospective buyers can’t currently own house or property
Loan is forgiven if homebuyer stays in property for 15 years
Repayment requirements apply if home buyer moves or rents the property prior to the end of the 15 years

In addition to its education courses, Housing For Nevada’s homebuyer program assists families with financial planning to purchase a home, inspections and appraisals of the properties and rehabilitation if needed.

Prudential Americana Group is Nevada’s largest real estate company with more than 1,100 sales executives and approximately 2,200 current home listings. It is an independently owned and operated member of Prudential Real Estate affiliates and is the 8th largest in the company’s national network of 650 franchises. For more information, visit www.americanagroup.com or call 702-796-7777.

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