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GE CAPITAL MORTGAGE CORP. MAKES HOME OWNERSHIP EASIER FOR WORKING CLASS FAMILIES

 GE CAPITAL MORTGAGE CORP.
 MAKES HOME OWNERSHIP EASIER FOR WORKING CLASS FAMILIES
 WHAT: In an effort to improve housing for lower- and middle- income families, a national mortgage insurance company is making more than $1 billion available to insure home mortgages with down payments of only 5 percent (and, in some cases, only 3 percent) of the home value.
 WHY: GE Capital Mortgage Insurance Co. believes that when people own their own homes, neighborhoods improve, and people start to acquire wealth -- everyone benefits. GE Capital believes that working class people who want to own their own homes present a great investment opportunity.
 GE Capital is also interested in developing special programs to encourage single-parent families, minorities and new Americans to become homeowners. The company wants to get some of the foreclosed and abandoned housing rehabilitated and back into the housing market.
 WHO: Marty Heck, president and chief operating officer of GE Capital Mortgage Insurance Co., will be available for interviews on how his company will provide mortgage insurance through a number of local lenders to make home loans available for 5 percent down.
 WHEN: Tuesday, Nov. 10
 WHERE: Los Angeles and greater Southern California
 HOW: Personal and telephone interviews
 CONTACT: Catherine Lockwood, public relations counsel of GE Capital Mortgage, 310-828-0870.
 -0- 10/26/92


CO: GE Capital Mortgage Corp. ST: California IN: FIN SU:

BP-LS -- LA001 -- 4756 10/26/92 12:02 EST
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Publication:PR Newswire
Date:Oct 26, 1992
Words:233
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