Item 1.01. Entry into a Material Definitive Agreement.
Brookfield Homes Corporation (the "Company") is disclosing information under this Item as a result of entering into a definitive agreement with an affiliate of the Company. On January 27, 2009, the Company amended its unsecured revolving credit facility in the form of a promissory note with a subsidiary of its major stockholder, Brookfield Asset Management Inc., in order to (i) provide for an increase in the aggregate principal amount to an amount not to exceed $350,000,000, (ii) extend the term to June 30, 2010, and (iii) amend, on a temporary basis until June 30, 2009, the minimum shareholders' equity covenant to $225 million and the consolidated net debt to book capitalization ratio to 80%. All other terms and conditions of the promissory note, as amended, remain in force and effect.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
99.1 Promissory Note Amendment, dated January 27, 2009.

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