TODAY’S DAYTON HOMEOWNERSHIP FAIR HELPS MAKE THE AMERICAN DREAM A REALITY FOR LOCAL RESIDENTS
- AmeriDream Works With Local Businesses to Help Increase Homeownership in Dayton -
Dayton, Ohio (October 11, 2003) – In an effort to increase homeownership in the Dayton region and educate residents about the homebuying process, AmeriDream, Inc. is hosting the Dayton Homeownership Fair today at the Hara Arena East Hall. In recognition of AmeriDream’s efforts, Mayor Rhine McLin of Dayton has issued an official proclamation declaring this AmeriDream Appreciation Week.
Today’s Homeownership Fair provides potential homebuyers access to local real estate agents, lenders, builders and others who can guide them through the process of buying a home. In addition to the numerous educational resources available at the event are children’s activities, a NASCAR simulator and a special visit from Heater, the official mascot of the Dayton Dragons. AmeriDream, the nation’s largest provider of down payment gifts, is available to share information about The AmeriDream Downpayment Gift Program, through which homebuyers can receive gift funds to cover down payment or settlement costs.
“In many cases, people who want to become homebuyers have enough money to cover the mortgage and maintenance costs associated with owning a home, but they just don’t have the large chunk of cash needed for down payment or closing costs,” said Ann Ashburn, president and CEO of AmeriDream, Inc. “Since we were founded four years ago, AmeriDream has given down payment gifts to more than 100,000 people, and we are looking forward to helping 100,000 more, beginning in Dayton.”
The Dayton Homeownership Fair is part of AmeriDream’s One Hundred Thousand Dreams program, celebrating the more than 100,000 individuals and families the organization has helped buy homes since 1999. AmeriDream has achieved this milestone through the AmeriDream Downpayment Gift Program, which provides up to five percent of a home’s selling price in the form of a cash gift that never has to be repaid. Earlier this year, AmeriDream traveled to Hampton Roads, Virginia, where hundreds of potential homebuyers benefited from the educational resources available through AmeriDream and its local business partners.
“Getting people into homes through The AmeriDream Downpayment Gift Program is only the first step,” said Ashburn. “The strongest families and communities are formed over time, so we have developed specific initiatives designed to help people stay in their homes, as well.”
Those programs include AmeriDream Solutions, which provides third-party assistance to homeowners who face foreclosure and the risk of losing their homes. AmeriDream Solutions serves as an interface between creditors and homeowners to help both parties reach a mutually beneficial agreement, and most importantly, keep the homeowner in his or her home.
Joining AmeriDream and AmeriDream Solutions at today’s Dayton Homeownership Fair are: American Standard Mortgage, Century 21 Elite Performance, Coldwell Banker Heritage, Dynus Financial Group, ERA Prestige 1st Realty Company, HomeOwnership Center of Greater Dayton, Irongate Inc. Realtors, National City Mortgage, Sibcy Cline Realtors, South Dayton Mortgage Group and Union Savings Bank.
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The mission of AmeriDream, Inc., headquartered in Gaithersburg, MD, is to expand homeownership opportunities for underserved groups and promote the value of homeownership as the foundation for building strong communities and individual prosperity. AmeriDream, Inc. is a non-profit, publicly supported organization that is tax-exempt under Internal Revenue Code Section 501(c)(3). AmeriDream, Inc. meets the requirements for a charitable organization, as referenced in the HUD Handbook 4155.1 REV-4, CHG-1 Section 2-10 for FHA insured loans. In addition to The AmeriDream Downpayment Gift Program, AmeriDream also operates The AmeriDream Redevelopment Program in the Washington, DC metropolitan area and Florida, and the Community Link Program nationwide. Through the Redevelopment Program, AmeriDream has spent more than $8 million to rehabilitate properties and return them to the market at affordable prices. Through Community Link, AmeriDream has donated more than $1.5 million to a range of community organizations, including Habitat for Humanity, the American Red Cross Disaster Relief Fund, and the Victims Rights Foundation. AmeriDream, Inc. is a member in good standing of the Homeownership Alliance of Nonprofit Downpayment Providers (HAND).