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Congressional leaders vow to fight HUD Rule and Protect the Dream of Homeowners

Gaithersburg, MD -- In a statement released Monday, October 1, Congressional Representatives Gary G. Miller, Maxine Waters and Al Green expressed disappointment in response to the rule issued by the Department of Housing, and Urban Development (HUD) eliminating legitimate downpayment assistance providers and vowed to fight HUD’s effort to terminate rather than reform an important tool that has built financial strength and formed lasting communities.

“AmeriDream and homebuyers across the country are grateful for the support presented by these Congressional champions of affordable housing,” said AmeriDream President Ann Ashburn. “HUD’s callous decision to implement this rule eliminates the dream of homeownership for many minorities, lower income, single parent households, and first-time homebuyers.”

Representatives Miller, Waters and Green called on HUD to address concerns with DPA and put in controls to improve the program rather than completely eliminate it as an opportunity for expanding homeownership for millions of families.

In an interview with Bloomberg News Service Monday Representative Al Green, a Texas Democrat said, ``I'm greatly disappointed and saddened by this action. The program could have been fixed and need not have been nixed. It's of great benefit to persons who don't have the disposable income for a down payment.''

“HUD has not only disregarded the leadership of Congress who support this affordable housing model, but also ignored the voices of over 15,000 concerned citizens as well highly respected organizations such as the U.S. Conferences of Mayors, the National Associations of Counties, the Mortgage Brokers Association, and the National Urban League,” Ms. Ashburn said.

AmeriDream has filed suit in the U.S. District Court for the District of Columbia to block the rule. In pleadings filed with the court, AmeriDream stated that the HUD regulation is contrary to the clear intent of Congress, HUD’s own historic practices and interpretations, and governing judicial precedents. It is also not reasonably supported by HUD’s explanations and justifications, and fails to offer a rational basis for rejecting alternative approaches.

AmeriDream will continue to vigorously fight for this opportunity to provide critical assistance to individuals and families who deserve to become homeowners.

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About AmeriDream

AmeriDream, Inc. is a 501(c)(3), publicly supported non-profit organization founded in 1999.  AmeriDream is a national leader of affordable housing and one of the first nonprofit organizations to pioneer providing down payment assistance to low-and-moderate income individuals and families to help them become homeowners.  AmeriDream also provides free homebuyer education and loss mitigation programs that help families keep their homes and prevent foreclosure.  These programs have helped thousands of individuals and families become successful homeowners.  To learn more about AmeriDream, please go to www.ameridream.org.