Make new file, I've use 300x100.
1) Create New Layer and with the Type Mask Tool type your text....
2) Fill it with the paint bucket. Then Deselect.
3) Now go to Filter -> Brush Strokes -> Spatter... This make the diferrence, try with diferent styles, Personally I've used Spray Radius: 12 and Smooth 10.
5) Now Image -> Adjustment -> Curves and use this styles:
6) Image -> Adjustment -> Auto Colors.
You are done now. To change the color select a color and set it your foreground, now go to Select -> Load Selection leave default options.
7) Now Edit -> Fill -> Set Foreground and press OK.
You can add some Layer Style, but that are your experiments =].
My final effect:
More Tutorials: 
