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Contact: Brandon Laster, Public Information Officer
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MHDC Purchases Loans from Springfield Habitat for Humanity

[Kansas City] -- The Missouri Housing Development Commission approved a plan to purchase five mortgage loans from Habitat for Humanity/Springfield, Inc. The loan purchases will allow the Habitat for Humanity organization fund the construction of additional houses.

According to Richard Grose, MHDC Executive Director, this is the second time MHDC has purchases loans from the group to help fund additional construction. The Commission purchased five loans in June 1995.

"The work of groups like HFH/Springfield help bring high-quality affordable housing to the inner city," he said. "We are very supportive of their efforts and are very happy to provide this service to continue this valuable work."

The Springfield Habitat for Humanity organization was established in 1988 and has completed 23 houses with another four under construction. The organization builds affordable housing on inner city sites in Springfield at no profit and sells them to qualified families at no interest. Each homeowner is required to work a total of 350 hours of "sweat equity" on their home or that of a neighbor. Homeowners must also attend homeownership and budgeting classes.

In addition to the five mortgages previously purchased from HFH/Springfield, the Commission currently holds mortgages from the St. Louis, Show Me Central (Columbia), Mountain Country (Branson) and Kansas City affiliates of Habitat for Humanity.

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For more information on the Habitat for Humanity/Springfield, Inc. call (417) 831-3841.