Operation Homefront To Donate Up To $500,000 In Bank-Owned Properties To House Military Families

Aug 23, 2012, 11:34 ET from Operation Homefront

Homes to be donated to provide sustainable housing to homeless veterans

SAN ANTONIO, Aug. 23, 2012 /PRNewswire-USNewswire/ -- Operation Homefront, a national nonprofit that provides emergency assistance to military families and Wounded Warriors, today announced Wells Fargo, one of America's leading community banks and the nation's largest home mortgage lender, will donate up to $500,000 in bank-owned properties to help house military families.  The bank is providing the homes and other support as part of Operation Homefront's "Homes on the Homefront" program.  Operation Homefront will provide ongoing transitional services to the families until such time the properties are actually deeded to the recipients.

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Operation Homefront and Wells Fargo will match unsold homes in the bank's inventory with deserving families served by the nonprofit.  Some of the requirements that applicants must meet include: 1) be on active duty, Guard or Reserve, or have been honorably discharged, 2) not currently a homeowner and 3) be financially capable of sustaining the home throughout an initial transition period and beyond.   

The program's first priority will be to place families who currently live at an Operation Homefront Village, which provides transitional housing for Wounded Warrior families. Any veteran of any era, regardless of wounded or disability status, may apply.

"Operation Homefront is thrilled to welcome Wells Fargo as a partner for our Homes on the Homefront program," said Jim Knotts, Operation Homefront CEO. "Wells Fargo's assistance with the program ensures that more veterans and their families will be able to grow and move forward following their transition from the military."

"Wells Fargo is proud to support Operation Homefront's efforts to make housing available for veterans," said Tyler Smith, a vice president with Wells Fargo Home Mortgage's Premiere Asset Services. "We hope more companies and individuals will get involved with supporting Operation Homefront's mission that brings resources to veterans seeking ways to overcome homelessness and to address economic challenges including with the housing market."

In 2011, Wells Fargo Housing Foundation programs delivered a record $23.4 million, 697 discounted and 1245 donated properties to support local affordable housing and community revitalization programs.

Military families can apply for the Homes on the Homefront program by logging on to www.OperationHomefront.net/HomesOnTheHomefront

About Operation Homefront:  A national nonprofit, Operation Homefront leads more than 4,500 volunteers, with nationwide presence, and has met more than 590,000 needs since 2002.  A four-star rated charity by watchdog Charity Navigator, nationally, 94 percent of total revenue donated to Operation Homefront goes directly to assist service members.  More information is available at www.OperationHomefront.net

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank's customers who conduct business in the global economy. With approximately 265,000 full-time equivalent team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune's 2012 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially.

SOURCE Operation Homefront