GAITHERSBURG, MD -- AmeriDream, Inc., the nation's leader in providing affordable housing opportunities, is pleased to announce that Cynthia Hilton has been chosen as April's FreshStart recipient and will receive a down payment of over $3,000 for her new home.
Hilton's lender, Candace Pinaud of Skytrust Mortgage in Ann Arbor, Michigan, shared her story with AmeriDream. She explained that Cynthia, a young woman of 32, has lost both of her parents. Her brother lives very far away, so she is essentially alone in her life. Yet, Cynthia has dedicated her time to helping another family. She takes care of a special needs child, as well as the other children in the family as needed. She does this with compassion and understanding, and complete competence. Cynthia had not taken out a lot of credit in her life, so finding a loan was difficult for her. But through perseverance, she was able to get approved for an FHA loan.
"My motto is 'Leave No Stone Unturned' and I mean it! If my borrower is willing to turn every stone over, so am I, and together, we will find the right mortgage for them, no matter how many stones need to be turned!! Thanks to the help of the great organization AmeriDream in showing such kindness and support with their FreshStart program, and for providing such fantastic benefits for borrowers." If interested in obtaining a mortgage loan, Pinaud can be reached at 734.476.3366 or c.pinaud@lenderltd.com.
"AmeriDream is happy to help Cynthia realize the dream of homeownership. Through the FreshStart program, AmeriDream has provided Cynthia an opportunity to own her own home," said Robert Newman, Executive Vice President and COO. "The FreshStart gift has truly given her a fresh start. This is one more way AmeriDream is doing things right for America's homebuyers."
AmeriDream launched its FreshStart program on January 31st, 2005. Each month, loan officers may submit FreshStart applications online to AmeriDream nominating customers to receive a gift to be applied to a down payment or closing costs. AmeriDream will review the submissions and award down payment assistance to families or individuals based on their need and circumstances. The gift will be the equivalent of three percent of the price of the home being purchased and will not require seller participation.
Since inception, AmeriDream has helped more than 300,000 families and individuals buy and sell homes. In addition to FreshStart, AmeriDream operates several programs in support of its mission of expanding affordable housing opportunities for underserved groups. AmeriDream's Downpayment Assistance Program gifts 3-10% of the sales price of the home for a down payment or closing costs; the gift never has to be repaid. DreamKeeper Mortgage Payment Relief Program offers homebuyers protection against involuntary unemployment and disability for up to five years after the purchase of their new home. Additionally, AmeriDream's online Homebuyer Education Course is offered in both English and Spanish, and is free to users. The Home Retention/Loss Mitigation Program works with homeowners to make sure all available alternatives to foreclosure are evaluated. And, the AmeriDream redevelopment Program builds new, affordable homes and renovates existing properties, placing these properties on the market at prices that accommodate low-income homebuyers. Finally, AmeriDream's Community Link Program has donated over $2 million to numerous worthwhile charitable organizations. AmeriDream works to help families and individuals overcome the obstacles to homeownership. For more information, visit http://www.ameridream.org/.
The mission of AmeriDream(R), 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 and DreamKeeper mortgage payment relief, 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 $11 million to rehabilitate properties and return them to the market at affordable prices. Through Community Link, AmeriDream has donated more than $2 million to a range of community organizations, including Habitat for Humanity, the American Red Cross Disaster Relief Fund, the Victims Rights Foundation and the Hatteras Island Rebuilding Fund.
Source: AmeriDream, Inc.
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CONTACT: Molly McAndrew of AmeriDream, Inc., +1-301-987-5152,
mmcandrew@ameridream.org
Web site: http://www.ameridream.org/
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