SECURITIES AND EXCHANGE COMMISSION

                              Washington, D.C. 20549

                                        FORM 10-Q

(Mark One)

x    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
---- EXCHANGE ACT OF 1934

For the quarterly period ended          March 31, 2002
                                       ------------------
                                        OR

     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

For the transition period from            to
                               ----------    -----------
For Quarter Ended         Commission file number    0-19633
                 ---------                          -------

                                   ENGLE HOMES, INC.
--------------------------------------------------------------------------
               (Exact name of registrant as specified in its charter)


      FLORIDA                                   59-2214791
-------------------------------          ---------------------------------
(State or other jurisdiction of          (I.R.S. Employer
incorporation or organization)           Identification No.)

   123 N.W. 13th Street
   Boca Raton, Florida                                33432
-------------------------------           --------------------------------
(Address of principal executive offices)            (Zip code)

(Registrant's telephone number, including area code) (561) 391-4012
                                                      ----------------------
                                     NONE
--------------------------------------------------------------------------
     (Former name, former address and former fiscal year, if changed since
last report)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such report(s), and (2) has been subject to filing requirements
for the past 90 days.
YES   x     NO
   ------      ------
Number of shares of common stock outstanding as of March 31, 2002:         100

                    PART I. FINANCIAL INFORMATION
                    ITEM 1. FINANCIAL STATEMENTS
<TABLE>
               ENGLE HOMES, INC. AND SUBSIDIARIES
     (A WHOLLY-OWNED SUBSIDIARY OF TECHNICAL OLYMPIC, INC.)
               Condensed Consolidated Balance Sheets
                         (unaudited)
           (dollars in thousands, except per share data)
<CAPTION>
                                                March 31,   December 31,
                                                  2002         2001
                                             -------------  ------------
<S>                                          <C>            <C>
                      ASSETS

HOMEBUILDING:
CASH AND CASH EQUIVALENTS
  Unrestricted                               $      67,589  $    57,487
  Restricted                                        11,626        7,738
INVENTORIES                                        470,054      456,303
PROPERTY AND EQUIPMENT, net                          5,172        5,474
OTHER ASSETS                                        15,309       31,295
GOODWILL                                            14,813       14,788
                                             -------------  -----------
                                                   584,563      573,085
                                             -------------  -----------

FINANCIAL SERVICES:
CASH AND CASH EQUIVALENTS
  Unrestricted                                       6,671        7,930
  Restricted                                        12,563       19,605
MORTGAGE LOANS HELD FOR SALE                        28,719       50,933
OTHER ASSETS                                         2,870        3,295
                                             -------------  -----------
                                                    50,823       81,763
                                             -------------  -----------
     TOTAL ASSETS                            $     635,386  $   654,848
                                             =============  ===========

                    LIABILITIES
HOMEBUILDING:
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES     $      49,817  $    34,226
CUSTOMER DEPOSITS                                   21,687       21,994
CONSOLIDATED LAND BANK OBLIGATION                   29,578       30,022
BORROWINGS                                         202,000      202,938
SENIOR NOTES PAYABLE                                12,897       12,897
                                             -------------  -----------
                                                   315,979      302,077
                                             -------------  -----------
FINANCIAL SERVICES:
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES            11,626       18,828
FINANCIAL SERVICES BORROWINGS                       13,933       38,689
                                             -------------  -----------
                                                    25,559       57,517
                                             -------------  -----------
     TOTAL LIABILITIES                             341,538      359,594
                                             -------------  -----------


MINORITY INTEREST                                   31,398       35,696

                                    2
               SHAREHOLDER'S EQUITY

COMMON STOCK, $.01 par, shares authorized
  1,000; issued 100
ADDITIONAL PAID-IN CAPITAL                         215,709      215,709
RETAINED EARNINGS                                   46,741       43,849
                                             -------------  -----------
     TOTAL SHAREHOLDER'S EQUITY                    262,450      259,558
                                             -------------  -----------
                                             $     635,386  $   654,848
                                             =============  ===========





<FN>
See accompanying notes to condensed consolidated financial statements.
</FN>
</TABLE>









































                                        3

<TABLE>
                         ENGLE HOMES, INC. AND SUBSIDIARIES
               (A WHOLLY-OWNED SUBSIDIARY OF TECHNICAL OLYMPIC, INC.)
                     Condensed Consolidated Statements of Income
                                   (Unaudited)
                        (in thousands, except per share data)
<CAPTION>
                                                        Three Months Ended
                                                             March 31,
                                                    -------------  -----------
                                                         2002          2001
                                                    -------------  -----------
<S>                                                 <C>            <C>
REVENUES
  Sales of homes                                    $     218,417  $   213,581
  Sales of land                                               215          688
  Rent and other                                            1,312        1,917
                                                    -------------  -----------
                                                          219,944      216,186
                                                    -------------  -----------
COSTS AND EXPENSES
  Cost of sales - homes                                   173,811      172,908
  Cost of sales - land                                        172          472
  Selling, general and
   administrative                                          25,011       20,970
  Severance and merger related charges                     13,748
  Depreciation and amortization                             1,440        1,690
                                                    -------------  -----------
                                                          214,182      196,040
                                                    -------------  -----------
Homebuilding pretax income                                  5,762       20,146
                                                    -------------  -----------

Financial Services:
  Revenue                                                   8,083        6,395
  Expenses                                                  4,360        3,986
                                                    -------------  -----------
Financial Services pretax income                            3,723        2,409
                                                    -------------  -----------

INCOME BEFORE INCOME TAX                                    9,485       22,555
  Provision for
  income taxes                                              3,581        8,402
                                                    -------------  -----------
NET INCOME                                          $       5,904  $    14,153
                                                    =============  ===========









<FN>
See accompanying notes to condensed consolidated financial statements.
</FN>
</TABLE>


                                        4

<TABLE>
                      ENGLE HOMES, INC. AND SUBSIDIARIES
            (A WHOLLY-OWNED SUBSIDIARY OF TECHNICAL OLYMPIC, INC.)
           Condensed Consolidated Statement of Shareholder's Equity
                    For the Three Months Ended March 31, 2002
                                 (Unaudited)
                     (in thousands except number of shares)

<CAPTION>

                          Common Stock     Additional
                         --------------     Paid-In    Retained
                         Shares  Amount     Capital    Earnings    Total
                         ------  ------    ----------  --------  ---------
<S>                      <C>     <C>       <C>         <C>       <C>

Amounts at
December 31, 2001           100     -      $  215,709  $ 43,849  $ 259,558

  Net Income for the
  Three Months Ended
  March 31, 2002                                          5,904      5,904

  Net Dividends
  to Parent                                              (3,012)    (3,012)
                        -------  ------    ----------  --------  ---------
Amounts at
March 31, 2002              100  $  -      $  215,709  $ 46,741  $ 262,450
                        =======  ======    ==========  ========  =========



























<FN>
See accompanying notes to condensed consolidated financial statements.
</FN>
</TABLE>

                                       5

<TABLE>

                        ENGLE HOMES, INC. AND SUBSIDIARIES
            (A WHOLLY-OWNED SUBSIDIARY OF TECHNICAL OLYMPIC, INC.)
                Condensed Consolidated Statements of Cash Flows
                                  (Unaudited)
                                 (in thousands)
<CAPTION>
                                                     Three Months Ended
                                                          March 31,
                                                ----------------------------
                                                    2002           2001
                                                -------------    -----------
<S>                                             <C>              <C>

NET CASH PROVIDED BY OPERATING ACTIVITIES       $      42,994    $    44,137
                                                -------------    -----------
CASH FLOWS FROM INVESTING ACTIVITIES
   Net acquisitions of property and equipment            (704)          (849)
                                                -------------    -----------
   Net cash required by investing activities             (704)          (849)
                                                -------------    -----------
CASH FLOWS FROM FINANCING ACTIVITIES
   (Decrease) Increase in borrowings                  (24,756)        27,001
   Repayment of borrowings                               (938)       (26,489)
   Decrease in minority interest                       (4,298)
   Decrease in consolidated land
      bank obligation                                    (443)
   Distributions to parent                             (3,012)       (19,063)
                                                -------------    -----------
   Net cash required by
   financing activities                               (33,447)       (18,551)
                                                -------------    -----------
NET INCREASE IN CASH                                    8,843         24,737

UNRESTRICTED CASH AT BEGINNING OF PERIOD               65,417         18,078
                                                -------------    -----------

UNRESTRICTED CASH AT END OF PERIOD              $      74,260    $    42,815
                                                =============    ===========


<FN>
See accompanying notes to condensed consolidated financial statements.
</FN>

</TABLE>














                                       6
                      ENGLE HOMES, INC. AND SUBSIDIARIES
          (A WHOLLY-OWNED SUBSIDIARY OF TECHNICAL OLYMPIC, INC.)
           Notes to Condensed Consolidated Financial Statements
                                (Unaudited)

NOTE 1  BASIS OF PRESENTATION AND BUSINESS

     Engle Homes, Inc. and subsidiaries ("the Company") is engaged
principally in the construction and sale of residential homes and land
development.  The Company operates throughout Florida with divisions in
Broward County; Palm Beach and Martin Counties; Orlando; Fort Myers; and
Naples.  The Company also has divisions operating outside Florida including
Dallas/Ft. Worth, Texas; Denver, Colorado; Virginia; and Phoenix, Arizona.
Ancillary products and services to its residential home building include land
sales to other builders, origination and sale of mortgage loans and title
services.  The consolidated financial statements include the accounts of the
Company and all subsidiaries.  All significant intercompany balances and
transactions have been eliminated in consolidation.

     There is no disclosure of earnings per share since the Company has no
registered trading capital stock.

     These statements do not contain all information required by accounting
principles generally accepted in the United States that are included in a full
set of financial statements.  In the opinion of management, the accompanying
unaudited condensed consolidated financial statements reflect all adjustments
consisting primarily of normal recurring items necessary to present fairly the
financial position of the Company at March 31, 2002 and December 31, 2001, and
results of its operations for the three months ended and its cash flows for the
three months ended March 31, 2002 and March 31, 2001.  These unaudited
condensed consolidated financial statements should be read in conjunction with
the audited financial statements and notes contained in the Company's Annual
Report on Form 10-K for the year ended December 31, 2001.  Results of operations
for these periods are not necessarily indicative of results to be expected for
the full year.

<TABLE>
NOTE 2 INVENTORIES  (dollars in thousands)
<CAPTION>
                                                     March 31,     December 31,
                                                        2002           2001
                                                   -------------    -----------
<S>                                                <C>              <C>
Land and improvements for residential homes
under development                                  $     317,573     $ 302,630
Residential homes under construction                     152,481       153,673
                                                   -------------      ---------
                                                   $     470,054      $ 456,303
                                                   =============      =========
</TABLE>











                                     7

<TABLE>
NOTE 3 CAPITALIZATION OF INTEREST (dollars in thousands)
     Included in inventory is the following:
<CAPTION>
                                                      For the Three Months
                                                         Ended March 31,
                                                    ------------  ----------
                                                        2002         2001
                                                    ------------  ----------
<S>                                                 <C>           <C>
Interest capitalized,
beginning of period                                 $      9,434  $   23,019
Interest incurred and
capitalized                                                3,154       5,000

Amortized to cost of sales-homes                          (6,134)     (6,293)
Amortized to cost of sales-land                               (2)        (56)
                                                    ------------   ---------
Interest capitalized, end of period                 $      6,452   $  21,670
                                                    ============   =========

</TABLE>
NOTE 4 - SEGMENT REPORTING

     Our segments consist of homebuilding and financial services.  These two
segments are segregated in the accompanying condensed consolidated financial
statements under "Homebuilding" and "Financial Services", respectively.

NOTE 5 - CONTINGENCIES

     In early February 2002, Alec Engelstein, Chief Executive Officer of Engle
Homes, and David Shapiro, Vice President-Chief Financial Officer of Engle Homes,
resigned from their executive positions with Engle Homes and alleged that they
were entitled to receive severance packages in excess of $10,000,000 in the
aggregate.  We have advised them that we dispute their claims, but there can be
no assurance that, if litigated or arbitrated, we will prevail.  However, we
have amounts sufficient to cover the alleged payments due to Mr. Engelstein and
Mr. Shapiro in the accompanying condensed consolidated statement of income.

NOTE 6 - NEW ACCOUNTING PRONOUNCEMENTS

     In June 2001, the Financial Accounting Standards Board (FASB) approved
Statement of Financial Accounting Standard 141 (Statement 141), Business
Combinations, and Statement of Financial Accounting Standards 142 (Statement
142), Goodwill and Other Intangible Assets.  Statement 141 requires that the
purchase method of accoounting be used for all business combinations initiated
after June 30, 2001.  Statement 142 changes the accounting for goodwill from an
amortization method to an impairment-only approach.  Statement 142 is effective
for the Company's fiscal year 2002.  The impact of adopting Statement 141 and
142 has not been significant to the Company's financial statements.

     In September 2000, the FASB issued Statement of Financial Accounting
Standards 140 (Statement 140), Accounting for Transfers and Servicing of
Financial Assets and Extinguishments of Liabilities.  Statement 140 amends
Statement 125 and provides revised accounting and financial reporting rules for
sales, securitizations, and servicing of receivables and other financial assets,
and for secured borrowing and collateral transactions.  The provisions
concerning servicing assets and liabilities as well as extinguishments of
liabilities remain consistent with Statement 125.  Statement 140 is applicable
to transfers occurring after March 31, 2001.  The impact of adopting Statement
140 has not been significant to the Company's financial statements.
                                        8

Part 1 - Item II
                         MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                      FINANCIAL CONDITION AND RESULTS OF OPERATIONS
General
<TABLE>
     The following table sets forth for the periods indicated certain items of
the Company's financial statements expressed as a percentage of the Company's
total revenues:
<CAPTION>
                                                           For the Three
                                                           Months Ended
                                                             March 31,
                                                        -------------------
                                                          2002         2001
                                                        ------       ------
<S>                                                     <C>          <C>
Total Revenues                                          100.0%       100.0%
Costs of home construction
and land sales                                           76.2         77.9
Selling, general
and administrative                                       11.0          9.4

Severance and merger related charges                      6.0

Income before taxes                                       4.2         10.1
</TABLE>
<TABLE>
Backlog

     Sales of the Company's homes are generally made pursuant to a standard
contract which requires a down payment of up to 10% of the sales price.  The
contract includes a financing contingency which permits the customer to cancel
in the event mortgage financing at prevailing interest rates (including
financing arranged by the Company) is unobtainable within a specified period,
typically four to six weeks.  The Company includes an undelivered home sale in
its backlog upon execution of the sales contracts and receipt of the down
payment.  Revenue is recognized only upon the closing and delivery of a home.
The Company estimates that the average period between the execution of a
purchase agreement for a home and delivery is approximately six months.  The
following table sets forth the Company's backlog for the periods indicated:
<CAPTION>
                                           March 31,
                                  2002                     2001
                                     (dollars in thousands)
                            ----------------         ----------------
                            Units    Dollars         Units    Dollars
                            -----  ---------         -----  ---------
<S>                         <C>    <C>               <C>    <C>
Florida(1)                  1,257    328,100         1,357    322,900
Texas                         125     24,900           171     34,400
West(2)                       388    103,200           499    139,900
Mid-Atlantic(3)               171     65,200           342     99,200
                            -----  ---------         -----  ---------
TOTAL                       1,941  $ 521,400         2,369  $ 596,400
                            =====  =========         =====  =========
<FN>
(1)    Florida refers to Broward County, Palm Beach County, Martin County,
       Orlando, Tampa, Sarasota, Naples, and Fort Myers.
(2)    West refers to Denver, Colorado and Phoenix, Arizona.
(3)    Mid-Atlantic refers to Virginia and Atlanta, Georgia.
</FN>
</TABLE>                                9
    The Company is marketing in 89 subdivisions at March 31, 2002, consisting
of 43 subdivisions in Florida; 12 in Texas; 27 in the West and 7 in the Mid-
Atlantic region.

Results of Operations:

Three Months Ended March 31, 2002 compared to March 31, 2001.

     The Company's revenues from home closings for the quarter ended March 31,
2002 increased $4.8 million (or 2.3%) compared to the same period in fiscal
2001.  The number of homes delivered decreased 3.7% (to 864 from 897) while the
average selling price of homes delivered increased 6.3% (to $253,000 from
$238,000).  Management believes that changes in the average selling price of
homes delivered from period to period are attributable to discrete factors at
each of its subdivisions, including product mix and premium lot availability,
and cannot be predicted for future periods with any degree of certainty.

     Cost of home closings increased $0.9 million (or 0.5%) compared to the
quarter ended March 31, 2001 primarily due to the related increase in home
sale revenues.  Cost of home sales as a percentage of home sales revenue
decreased to 79.6% from 81.0% as a result of the product mix of homes delivered.

     The Company's selling, general and administrative ("S,G&A") expenses
increased approximately $4.0 million (or 19.3%) during the three months ended
March 31, 2002, as compared to the same period in fiscal 2001.  S,G&A expense
as a percentage of total revenues for the three months ended March 31, 2002
increased to 11.0% compared to 9.4% for the quarter ended March 31, 2001.  The
increase in S,G&A as a percentage of total revenue is primarily due to higher
information technology expenditures and performance compensation accruals.

     Primarily as a result of the increase in severance and merger related
charges, net income decreased by $8.2 million in the three months ended March
31, 2002 from the comparable period in fiscal 2001.

Liquidity and Capital Resources

     Engle's financing needs historically have varied based primarily on its
operations, sales volume, inventory levels, inventory turnover, and land
acquisitions.  Engle's cash needs historically have been provided by cash flows
from operations, unsecured bank borrowings and, from time to time, notes issued
in the debt markets.  At March 31, 2002, Engle had cash and cash equivalents of
$98.4 million.  Inventories (including land and improvements held for
development and residential homes under construction) at March 31, 2002 were
$470.1 million, an increase of $13.8 million, or 3.0%, from $456.3 million at
December 31, 2001.  This increase resulted from general growth in Engle's
business.

     Cash from Operating Activies.  Cash provided by operating activities
decreased by $1.1 million to $43.0 million in the three months ended March 31,
2002 from $44.1 million for the three months ended March 31, 2001.  Cash
provided from net income decreased by $8.2 million to $5.9 million in the three
months ended March 31, 2002 from $14.2 million for the three months ended March
31, 2001.  The primary reason for the decrease in net income was a merger
related charge of approximately $13.7 million in the three months ended March
31, 2002.  Cash used for inventory increased by $35.7 million to $13.8 million
for the three months ended March 31, 2002 from a source of cash of $21.9 million
in the three months ended March 31, 2001.  Cash flows provided by mortgages held
for sale increased by $34.2 million to $22.2 million for the three months ended
March 31, 2002 compared to a use of cash of $12.0 million in the three months
ended March 31, 2001.  Cash Flows provided by accounts payable and accrued
expenses decreased $5.7 million to $8.4 million for the three months ended March
                                   10
31, 2002 from $14.1 million for the three months ended March 31, 2001.

     Cash from Financing Activities.  Cash flows used in financing activities
increased by $14.8 million to $33.4 million for the three months ended March 31,
2002 from $18.6 million for the three months ended March 31, 2001.  Repayment
of borrowings declined as a use of funds by $25.6 million to $0.9 million in the
three months ended March 31, 2002 from a use of funds of $26.5 million for the
three months ended March 31, 2001.  Funds provided by borrowings decreased by
$51.8 million using $24.8 million in funds in the three months ended March 31,
2002 from $27.0 million provided by increased borrowings for the three months
ended March 31, 2001.  Distributions to parent decreased by $16.1 million to
$3.0 million in the three months ended March 31, 2002 from $19.1 million in the
three months ended March 31, 2001.  A decrease in minority interest used $4.3
million in the three months ended March 31, 2002 compared to zero in the three
months ended March 31, 2001.

     Indebtedness.  At March 31, 2002, Engle had homebuilding borrowings of
approximately $214.9 million outstanding and an aggregate of $65.4 million in
letters of credit and payment and performance bonds outstanding.  Outstanding
homebuilding borrowings at December 31, 2001 consisted of $202.0 million
aggregate principal amount of unsecured borrowings from financial institutions,
and $12.9 million of the Engle 9 1/4% Senior Notes due 2008.  The letters of
credit and payment and performance bonds are required for certain development
activities, such as deposits on land and lot purchase contract deposits.
Deposits for future purchases of land totaled $30.1 million at March 31, 2002.

     In addition, in order to fund the origination of residential mortgage
loans, PHMC has a warehouse line of credit (including a purchase agreement) for
$40.0 million which is guaranteed by Engle and secured by the mortgage loans
held for sale.  This line of credit bears interest at the Federal Funds rate
plus 1.375% (2.895% at December 31, 2001) and matures July 5, 2002.  PHMC is
required to fund 2.0% of all mortgages originated and to sell all funded
mortgages within 90 days.  At March 31, 2002, the outstanding balance on the
warehouse line of credit was $13.9 million.

     In connection with the acquisition of Engle by Technical Olympic on
November 22, 2000, Engle entered into a credit agreement providing for a $100.0
million term loan and a $275.0 million revolving credit facility (subject to
reduction based upon periodic determinations of a borrowing base).  Proceeds
from the term loan and the revolving credit facility were used to finance
Engle's required repurchase of the then outstanding $250.0 million principal
amount of 9 1/4% Senior Notes due 2008.  In addition, the revolving credit
facility provides working capital and credit support for the issuance of letters
of credit needed from time to time.  The term loan and revolving credit facility
mature on November 22, 2002 whereupon all amounts outstanding become due.  At
March 31, 2002, $100.0 million under the term notes and $102.0 million under the
revolving credit facility were outstanding.

     Additionally, approximately $13.0 million of the 9 1/4% Senoir Notes due
2008 were not tendered in the required repurchase and remain outstanding as of
March 31, 2002.

     LAND ACQUISITION.  The Company is continually exploring opportunities to
purchase parcels of land for its homebuilding operations and is, at any given
time, in various stages of proposing, making offers for, and negotiating the
acquisition of various parcels, whether outright or through options.  The
Company expects to pursue additional land acquisition and development
opportunities in the future.

     During 2001, the Company sold to an investment limited liability
company ("Investment Company") certain undeveloped real estate tracts.  The
                                   11
Investment Company is owned by several of the current and former executive
officers of the Company, including without limitation related trusts of
management.  As of March 31, 2002, the remaining value of lots that can
be acquired by the Company approximates $29.8 million.  The Company has placed
deposits, entered into a number of agreements, including option contracts
and construction contracts with the Investment Company, to develop and buy
back fully developed lots from time to time subject to the terms and
conditions of such agreements.  Additionally, under these agreements, the
Company can cancel these agreements to purchase the land by forfeiture of
the Company's deposit.  The Company believes that the terms of the purchase
contract and the terms of the related option and development contracts were
comparable to those available from unaffiliated parties.

     Although Engle does not have legal title to the assets of the
Investment Company and has not guaranteed the liabilities of the Investment
Company, Engle does exercise certain rights of ownership over the Investment
Company assets.  Consequently, the assets and associated liabilities of the
Investment Company have been recorded in the accompanying Consolidated Balance
Sheet as of March 31, 2002.  Minority interest in consolidated subsidiaries,
represents the equity provided by members of management.

     During 2001 and 2002, the Company entered into option arrangements with
independent third parties to acquire developed lots.  Under these option
arrangements, the Company placed deposits, which provide the right to
acquire developed lots at market prices.  Additionally, under these
arrangements, the Company can cancel these arrangements to purchase the land
by forfeiture of the deposit.

     Although the Company does not have legal title to the assets of these
independent third parties and have not guaranteed the liabilities, the
Company does exercise certain rights of ownership over the entity's assets.
Consequently, the assets and associated liabilities of these entities have been
recorded in the accompanying consolidated statement of financial condition as
of March 31, 2002.

     As a result of the above transaction, the Company has included on its
consolidated statement of financial condition inventory and land deposits of
approximately $61.0 million, minority interest of approximately $31.4 million,
which represents the equity of investors, and consolidated land bank obligation
of approximately $29.6 million.  These obligations are at market interest rates
and are repaid on lot closings with a final maturity through 2004.


Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

     The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements.  Certain information included in this
Report and other such Company filings (collectively, "SEC filings") under the
Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as
amended (as well as information communicated orally or in writing between the
dates of such SEC filings) contains or may contain information that is forward
looking, related to subject matter such as national and local economic
conditions, the effect of governmental regulation on the Company, the
competitive environment in which the Company operates, changes in interest
rates, home prices, availability and cost of land for future growth,
availability of working capital and the availability and cost of labor and
materials.  Such forward looking information involves important risks and
uncertainties that could significantly affect expected results.  These risks
and uncertainties are addressed in this and other SEC filings.


                                      12

Part 1 - Item 3
           QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS

     The Company is exposed to market risk primarily related to potential
adverse changes in interest rates as discussed below.  The Company's exposure
to market risks is changes to interest rates related to the Company's loans.
The interest rates relative to the Company's loans fluctuate with the prime and
Libor lending rates, both upwards and downwards.


Part II - Other Information

Item 1.   Legal Proceedings.

The Company is involved in various claims and legal actions arising in the
ordinary course of business.  In the opinion of the Company's management, the
ultimate disposition of these matters is not expected to have a material effect
on the financial condition or results of operations of the Company.

In early February 2002, Alec Engelstein, Chief Executive Officer of Engle Homes,
and David Shapiro, Vice President-Chief Financial Officer of Engle Homes,
resigned from their executive positions with Engle Homes and alleged that they
were entitled to receive severance packages in excess of $10,000,000 in the
aggregate.  We have advised them that we dispute their claims, but there can be
no assurance that, if litigated or arbitrated, we will prevail.  However, we
have amounts sufficient to cover the alleged payments due to Mr. Engelstein and
Mr. Shapiro in the accompanying condensed consolidated statement of income.

Item 2.   Changes in Securities.

None.  No disclosure required.

Item 3.   Defaults Upon Senior Securities.

None.  No disclosure required.

Item 4.   Submission of Matters to a Vote of Security Holders.

None.  No disclosure required.

Item 5.   Other Information.

None.  No disclosure required.

Item 6.   Exhibits and Reports on Form 8-K.

   (a)    Exhibits.
          None.
   (b)    Reports on Form 8-K.
          None.











                                      13

                                   SIGNATURES


                    Pursuant to the requirements of the
                    Securities Exchange Act of 1934, the
                    registrant has duly caused this report
                    to be signed on its behalf by the
                    undersigned thereunto duly authorized.



                              ENGLE HOMES, INC.
                              -----------------
                                (Registrant)


Date: MAY 14, 2002                               \s\ ANTONIO B. MON
------------------------                         ------------------------
                                                       Antonio B. Mon
                                                  Chief Executive Officer



Date: MAY 14, 2002                               \s\ TOMMY MCADEN
------------------------                         ------------------------
                                                       Tommy McAden
                                                  Chief Financial Officer


































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