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"Conference Addresses Benefits of Homeownership"
-- NOAAH and AmeriDream Team Up to Expand Housing Opportunities --

Gaithersburg, MD (June 25, 2003) –To help real estate professionals and potential homebuyers learn about affordable homeownership opportunities, including down payment assistance, the National Organization of African Americans in Housing (NOAAH) and AmeriDream, Inc. have teamed up to offer a free, one-day conference in Tampa on Thursday, June 26, 2003 from 9:30 am to 3:30 pm.

The conference, which is open to all, will emphasize how public housing authorities, lenders, real estate agents, mortgage bankers and others are looking to create homeownership opportunities through down payment assistance programs. Representatives from the Department of Housing and Urban Development, the City of Tampa, the Housing Authority, the Florida Association of Housing and Redevelopment as well as AmeriDream will speak on redevelopment in Florida, homebuyer training, and down payment assistance.

AmeriDream helps potential homebuyers by donating the money needed to purchase a home. And while homeownership is at its highest rate ever for white households, only 24 percent of African Americans own a home, according to a June 2002 survey by the U.S. Department of Housing and Urban Development (see report at http://www.hud.gov/initiatives/blueprint/econreport-101502.pdf). Much of that homeownership gap is explained by the difficulty to save enough for not only the down payment costs, but also the costs of closing.  The AmeriDream Downpayment Gift Program provides those costs to the buyer with no expectation of repayment.

The conference will be held in Tampa, Fla., at the Marriott Waterside hotel (700 S. Florida Ave.). For more information contact Molly McAndrew at 301-987-5152.




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.