NAR, Mayors Recognize Allentown, Pa., for Helping Hometown Heroes Become Homeowners

NAR, Mayors Recognize Allentown, Pa., for Helping Hometown Heroes Become
Homeowners

WASHINGTON, Oct. 23 /PRNewswire/ -- The National Association of Realtors(R)
and the U.S. Conference of Mayors have named Allentown, Pa., an Ambassador
City for its Hometown Heroes program, which creates homeownership
opportunities for the city's police officers, firefighters and emergency
services personnel.

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The Hometown Heroes program was created through a partnership between the
Lehigh Valley Association of Realtors(R) and the city of Allentown. The
program provides need-based financial assistance and home buyer education to
Allentown's public safety work force to help them purchase a principal
residence within the city.

"Realtors(R) are community builders and appreciate the crucial role that
police, fire and public safety professionals play in keeping our neighborhoods
healthy and safe," said NAR President Dick Gaylord, a broker with RE/MAX Real
Estate Specialists in Long Beach, Calif. "The Hometown Heroes program is an
excellent way for Realtors(R) and city leaders to say thank you to Allentown's
local heroes and help make their dreams of homeownership a reality."

The goal of the Hometown Heroes program is to help attract and retain
moderate-income city employees and increase the number of those who actually
live in Allentown - currently only one-fourth of the city's police force
resides within the city. The broader goal of the program is to help increase
Allentown's homeownership rate, which is slightly higher than 50 percent.

Through the Hometown Heroes program, police officers, firefighters and
emergency medical personnel who qualify would be eligible for
mortgage-interest or mortgage insurance buy-downs. Hometown Heroes program
managers hope to begin issuing funds in spring 2009.

At an event today, Realtor(R) Bonnie Boyd, 2008 chair of the NAR Housing
Opportunity Advisory Board, joined Dustin Joyce, Council for the New American
City, in presenting the Ambassador for Cities plaque to Allentown Mayor Ed
Pawlowski and LVAR President Mark Molchany.

NAR and the U.S. Conference of Mayors, through its Council on the New
American City, launched the Ambassadors for Cities program in 2003 to
encourage cities and local Realtor(R) associations to form partnerships to
promote affordable housing and homeownership.

The National Association of Realtors(R), "The Voice for Real Estate," is
America's largest trade association, representing 1.2 million members involved
in all aspects of the residential and commercial real estate industries.

Information about NAR is available at www.realtor.org. News releases are
posted in the Web site's "News Media" section in the NAR Media Center.

REALTOR(R) is a registered collective membership mark which may be used only
by real estate professionals who are members of the NATIONAL ASSOCIATION OF
REALTORS(R) and subscribe to its strict Code of Ethics. Not all real estate
agents are REALTORS(R). All REALTORS(R) are members of NAR.

SOURCE National Association of Realtors

Sara Weis of the National Association of Realtors, +1-202-383-1013,
sweis@realtors.org