AMERIDREAM REACHES OUT TO HABITAT FOR HUMANITY AND OTHERS
GAITHERSBURG, MD (April 30, 2001) -- The AmeriDream Charity, Inc., is continuing its tireless efforts to reach out to other non-profit organizations. The Charity recently donated $5,000 to Habitat for Humanity of Washington County, which will use the funds for a house that the Aid Association of Lutherans and Lutheran Churches is building in cooperation with Messiah Lutheran Church.
Through volunteer labor and donations of money and materials, Habitat for Humanity builds and rehabilitates simple, respectable homes. The families who will eventually become the home's owners also participate in the building process. Habitat houses are sold to partner families at no profit, and are financed with affordable, no-interest loans. The homeowners' monthly mortgage payments are used to build more homes.
AmeriDream also gave $10,000 to Housing Charities, Inc., a Rockville-based not-for-profit organization that promotes and enables homeownership opportunities for low- and moderate-income first-time homebuyers. HCI provides homeownership education and provides financial assistance to people with special housing needs.
Finally, the Charity gave $5,000 to the Lido Civic Club and the Casa Italian Cultural Center, which provides adult Italian classes and has a children's language program. The funds will be used for the Cultural Center's programs, as well as the Lido Club Scholarship Fund, which last year helped three college-bound seniors fulfill their educational dreams.
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The mission of The AmeriDream Charity, Inc., is to expand homeownership opportunities for underserved groups through the direct provision of downpayment assistance and through the restoration and development of communities. A 501(c)(3) organization, The AmeriDream Charity, Inc. meets HUD requirements for FHA insured loans as a charitable organization. In addition to The AmeriDream Downpayment Gift Program, the Charity also operates The AmeriDream Redevelopment Program in the Washington, DC, area, which focuses on rehabilitating properties and returning them to the market at affordable prices; and is on track to donate over $600,000 by the end of 2001 to a range of community organizations including Habitat for Humanity and the American Red Cross.
Represents the Number of "Main Street" Americans Denied the Opportunity to Purchase a Home With the Help of AmeriDream, Since Congress Prohibited Such Programs On October 1, 2008.!
Since 1999, AmeriDream has helped
individuals and families achieve the American Dream of homeownership.
On average, every 17 minutes there was a new homeowner because of AmeriDream.