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 - Affordable Housing Nonprofit Teams with Hispanic Real Estate Organization -

Gaithersburg, MD (May 6, 2003)— AmeriDream, Inc., the nation’s largest provider of down payment gifts, and the National Association of Hispanic Real Estate Professionals (NAHREP) announced today they have formed a partnership to increase homeownership in the Hispanic community. Through this partnership, AmeriDream and NAHREP will work on specific initiatives to raise awareness of the homeownership opportunities available to the Hispanic community, as well as educate individuals on the homebuying and mortgage loan processes.

“Our studies of the Hispanic community indicate that the single greatest barrier to homeownership is lack of knowledge about the homebuying process, and the second greatest is lack of a down payment,” said Gary E. Acosta, Chairman of NAHREP. “This partnership with AmeriDream will help to address both of these key issues at our 2003 NAHREP Hispanic Marketing Conference to be held on September 21-24, 2003 in Austin, Texas.”

The latest figures released by the U.S. Census Bureau show that while Hispanics represent the largest and fastest-growing minority group in the United States, homeownership rates among Hispanics lag behind those of other minority groups.  Census figures also show that homeownership rates among all minority groups are considerably lower than white homeownership rates.

“Education is a key component to alleviating the fear often associated with the homebuying process,” said AmeriDream CEO Ann Ashburn. “It is this lack of knowledge about the process that has kept many Hispanic families out of the housing market; we want to see that change. So, we have partnered with NAHREP to identify and implement solutions that will help Hispanic individuals and families achieve the dream of homeownership.”

AmeriDream and NAHREP will also conduct a joint study of Hispanic homeowners, produce an informational brochure and AmeriDream will serve as a platinum sponsor of NAHREP’s 2003 Hispanic Marketing Conference, where it will host a workshop on down payment assistance.

For more information on AmeriDream, visit www.ameridream.org. For more information on NAHREP, visit www.nahrep.org and www.realestateespanol.com.




About AmeriDream: 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.

About the National Association of Hispanic Real Estate Professionals (NAHREP): NAHREP is a nonprofit trade association committed to increasing the Hispanic homeownership rate by empowering real estate professionals that serve Hispanic consumers. Founded in 1999, NAHREP has more than 33 regional and local affiliates and members in 44 states.  NAHREP is a partner in the President’s “Blueprint for the American Dream” which is the White House’s Minority Homeownership Initiative.  Information about NAHREP is available at www.nahrep.org and www.realestateespanol.com.