For Immediate Release: December 17, 2008

CONTACT: Henry Fawell (410) 545-5830

AmeriDream Congratulates President-elect’s Housing Secretary Nominee

GAITHERSBURG , MD – Ann Ashburn, President of AmeriDream, Inc., today congratulated Shaun Donovan for being named president-elect Barack Obama’s nominee for Secretary of the U.S. Department Housing & Urban Development. Mr. Donovan most recently served as Commissioner of Housing Preservation and Development in New York City.

“President-elect Obama correctly stated this weekend that we need to move past the stale arguments that say low-income Americans shouldn't even try to own a home,” said Ashburn. “Shaun Donovan boasts a proven record of tearing down barriers that prevent hardworking, creditworthy families and individuals from achieving homeownership. We are encouraged by his nomination and, should he be confirmed, we hope a new era of partnership will follow.

“AmeriDream is excited to work with new HUD leadership on four solutions to the housing market crisis: expanding homebuyer education, lowering mortgage rates, reauthorizing and reforming downpayment assistance, and incentivizing the purchase of foreclosed homes. With the president-elect’s backing, we can make such sorely needed initiatives a reality. Our housing market and our economy depend on it. ”

To read Ann Ashburn’s op-ed outlining these four priorities, visit http://www.supporthomeownership.com.

BACKGROUND: AmeriDream, a 501(c)(3) charity, was established in 1999 to provide housing-related programs to low and moderate income individuals and families. Many recipients are first-time homebuyers, minorities, legal immigrants, women headed households, and single-parents, achieve homeownership. AmeriDream provides a wide range of programs, including homebuyer education, loss mitigation counseling, community development, and privately-funded down payment assistance. These programs are provided at no cost to the taxpayer. AmeriDream not only seeks to help families purchase homes, but also provide them with the education and other resources needed to be responsible homeowners.

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