FOR IMMEDIATE RELEASE                                                                          May 17, 2010

CITY SPONSORS HOMEBUYER FAIR ON JUNE 19 AT KAPOLEI HALE

(Mon., May 17, 2010)—Mayor Mufi Hannemann announced today that the 7th Annual Homebuyer/Homeowner Fair will be held at Kapolei Hale on Sat., June 19, from 9 a.m. to 1 p.m. The event is free and open to the public, and is sponsored by the City and various homeownership partners.

“This will be a great opportunity for prospective homebuyers to learn about programs and services designed to help make their dreams come true,” Mayor Mufi Hannemann said. “History was made recently when a participant in the City’s Section 8 housing assistance program became the first to purchase a new home built on Department of Hawaiian Homelands property. I’d like many more families to benefit from the collaborative efforts of the private sector and government agencies to make home-ownership possible.”

            Despite Hawaii’s high cost of living, the state has continually had one of the nation’s lowest foreclosure rates. The City has been integral in helping many Oahu families obtain low-interest down payment loans to buy their homes, and complete specialty courses in financial literacy and home-buying workshops to ensure they were financially ready for the purchases. Approximately 237 families have taken advantage of the City’s services and programs to buy their own homes. Thirty families from the City’s Section 8 Rental Assistance Housing Program have also become proud new homeowners.

As in previous fairs, a wide array of homebuyer resources will be available for the public. Resources include financial literacy workshops, home-buyer tips, credit repair assistance, and access to nonprofit agencies that can help with home-buying strategies. Loan officers are available to provide loan information and can pull credit reports. For families that may be struggling with high mortgage payments, foreclosure counseling workshops will again be offered to help homeowners that need support, resources and guidance to avoid foreclosure. 

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Contacts: Judy Pulido, Department of Community Services, 768-7090; or Reina Miyamoto, Hawaii Homeownership Center, 523-8116.