Company Helps Families With Home Ownership

By: Samuel Martin

Nevertheless, according to the 2000 census, there are more than 35 million families who rent.

Experts say that while many families are interested in home ownership, a major obstacle they face is the down payment.

Enclaves Group Inc., a spin-off of N.Y.-based real estate corporation Homes For America Holdings Inc., has created a "lease and own" program called Your Home, which the company devised to enable renters to enter the homeowner market.

"The Your Home Program is simple to understand and accessible to all Americans," said Mark MacFarlane, chief operating officer of Enclaves Group. "This creative program has no down payment and offers a structured purchase plan that creates home ownership equity for the working family."

In fact, MacFarlane noted that while the demand for housing has spurred the construction of new homes, traditional financing methods have not expanded to accommodate the needs of many ordinary families.

With no down payment required, the ability to accumulate "Good Resident Credits" and build substantial equity over a period of 36 months, MacFarlane says the program taps into a market that to date has received little or no attention: working families from all walks of life and diverse backgrounds who have not been able to overcome the obstacles to home ownership.

"Enclaves is the first and only home builder to target this unserved market," said Robert MacFarlane, chairman and chief executive officer of Home For America Holdings. "It's a simple process - what many families are currently paying in rent can now immediately apply for equity for their own piece of the American dream."

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