'Win A House America' Plans to Give Away Houses to Counter Housing Slump

In an effort to combat the slump that the real estate market has fallen into due to the sub-prime lending debacle, one company is taking an unconventional approach to making unlikely candidates for a mortgage homeowners.

According to a press release issued by Win A House America, LLC, and published on prnewswire.com, Win A House America has announced plans to give away homes across the nation. In doing so, their mission is both to renew real estate hope and to provide people with opportunities to own a home.

To have a chance to win one of the homes being given away by Win A House America, the consumer would register on the company's website, pay a one-time fee of $25 which is an entry fee, and play games of skill on the site. The company stresses that what they are doing ought not to be confused with gambling. The games are legal in 41 states, and not legal in others due to individual states' gaming laws. The site is of course legal in New York where the company is based. Win A House America, LLC, is a subsidiary of Global Holdings, LLC and a privately held company.

Said company spokesperson, Steve Harris, "Many people have no way to achieve their home-buying dream...We are providing those people with a non-conventional alternative."

Harris also added that the initiatives of his company will help sellers, too. He said that the company is helping people of all ages survive the housing slump while working to drive a weak economy.

In fact, the press release noted that the company made its announcement in light of a recent congressional subcommittee prediction that two to three million foreclosures will result from the sub-prime mortgage issues, and that many other experts predict that until 2009 -2010 these housing problems will persist.

Though currently all of the homes being given away are in New York and the tri-state area, the company plans to include homes across the country in due time. All of the homes being given away must past a stringent inspection and be free of mold, asbestos, and any other contaminants, as well as being entirely debt-free.