GAITHERSBURG, MD – The Chicago Tribune has corrected its erroneous report on June 22nd that AmeriDream, Inc., had lost its tax-exempt status. To view The Tribune’s correction, click here. AmeriDream remains a tax-exempt organization and continues to offer its downpayment assistance program funded in part by seller participation.
BACKGROUND ON AMERIDREAM: Charitable downpayment assistance funded in part with
seller participation has allowed homeownership to grow without using taxpayer dollars. To date,
more than one million families and individuals have utilized this downpayment assistance,
generating nearly $10 billion in home equity for those families between 2000 and 2005.
AmeriDream has provided more than 250,000 gifts to HUD-approved aspiring homeowners,
approximately 80% of whom were first-time homebuyers. AmeriDream also has helped educate
60,000 homebuyers through homebuyer education courses, helped 1,200 homeowners retain
their homes when confronted with mortgage difficulties, and committed over $30 million to
affordable housing development in local communities.