NEWS RELEASE     January, 5th, 2009         Contact: Yvette A. Núñez

yvette.nunez@apmphila.org        

 

ZERO FORECLOSURES

APM counsels hundreds into homeownership, looking for 25 more.

PHILADELPHIA, PA.—Asociación Puertorriqueños en Marcha (APM), one of the nation’s Top 25 Hispanic Nonprofits according to Hispanic Business Magazine, is a health, human services and community development organization responsible for leading the revitalization of Eastern North Philadelphia, particularly in the neighborhoods east of Temple University. APM has developed more than 100 brand new affordable homes through its Pradera I and II development projects, all purchased by low to moderate-income families, none of whom have gone into foreclosure.“Especially in this economy, an educated homeowner trumps wealth, and to this day, none of the families residing in the Pradera I & II homes have gone into foreclosure,” shared Rose Gray, Vice President of Community and Economic Development. “The families we serve have gone through a thorough process that has not only prepared their finances for homeownership, but their decision-making efforts as well. They understand that in order to build a financially stable future for their children, losing the house is not an option.  We counsel them beyond their credit reports to discuss what lifestyle changes may need to happen in order to best enable their families to prevent foreclosures.” To that end, APM’s Housing Counselors continue their relationships far beyond the date of settlement. The agency offers weatherization and financial literacy workshops as well as quarterly meetings with other stakeholders, including local police precincts.

The agency has recently completed its latest development project, the Ludlow Village V/Pradera III Homes, and is looking for 25 new families who are ready to make 2009 their year for homeownership. The homes, 22 new single, twin and handicap-accessible homes and three rehabilitated properties located on the 1500 block of North Franklin Street between 7^th and 8^th Streets and Jefferson and Oxford Streets, enable eligible buyers to receive a grant of up to $10,000 under HUD’s American Dream Downpayment Initiative (ADDI) which is administered in Philadelphia by the Office of Housing and Community Development.  This project was made possible through APM partnerships with the Philadelphia Office of Housing and Community Development, the Philadelphia Redevelopment Authority, the Pennsylvania Housing Finance Neighborhood Revitalization Initiative (Homeownership Choice Program), the State Department of Community and Economic Development and the Federal Home Loan Bank.

Buyers interested in obtaining housing counseling services and/or purchasing a Ludlow Village V/Pradera III homes can contact APM at 215-235-6070.

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APM is a Latino based health, human services and community development organization committed to assisting Philadelphia area families to achieve their full potential by offering a conglomerate of programs and services including education for children, mental health support, drug and alcohol treatment, health prevention and promotion and access to affordable housing options.