HUD announces $24.8 million ‘sweat equity’ grants

HUD announces $24.8 million ‘sweat equity’ grants: "WASHINGTON -- Feb. 27, 2006 -- More than 1,500 families could soon own a home as a result of $24.8 million in grants announced by the Department of Housing and Urban Development (HUD) through its Self-Help Homeownership Opportunity Program (SHOP). The money will go to four national and regional organizations.

'This funding not only helps families to purchase their first home, but taps into their own sweat equity to make them feel more invested in their new neighborhood,' says Assistant Secretary Pamela Patenaude. 'With a little investment and elbow grease, great things can happen and our SHOP program is proof of that.'

Nonprofit organizations awarded SHOP grants include:

� ACORN Housing Corporation, $572,000
� Community Frameworks, $4,500,000
� Housing Assistance Council, $9,000,000
� Habitat for Humanity International, $10,773,000"