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Posts tagged ‘Richard A Pratt’

11
Dec

Where Does $100 to Home For Our Troops Go?

Home For Our Troops (HFOT) is a non-profit tax-exempt 501 (c) (3) whose mission is to build specially adapted custom homes for severely injured post-9/11 veterans to help restore freedom and independence that was sacrificed defending our country.

To do this, HFOT raises funds, buys land, and builds homes but maintains a lien on the home for 10 years (to protect the veteran from losing the home to foreclosure/bankruptcy and to protect donors who made the home possible). Beginning in year 6, the veteran accrues 20% equity per year until they obtain full ownership in year 10. Since HFOT was established in 2004, 266 homes have been built (and only two veterans moved out before the end of their lien period). Read more »