Effort Will Result in 19 New Homes
DETROIT and ATLANTA, May 17 /PRNewswire/ -- Habitat for Humanity
affiliates across the United States and internationally are joining GMAC
Financial Services in an effort to create homeownership opportunities in
partnership with families in need through the construction of 19 new homes
in 2007.
GMAC Financial Services, based in Detroit, and its real estate finance
subsidiary GMAC ResCap in Minneapolis, will provide funding and more than
1,000 volunteers to help build 16 Habitat homes in the United States, as
well as additional homes in Canada, Mexico, and Australia. The Habitat
construction projects began in March and will continue throughout 2007.
"We salute the important work of Habitat for Humanity in creating safe,
decent and affordable housing," said GMAC President Bill Muir. "GMAC
employees are active on behalf of Habitat because we believe in supporting
the communities where we live and work, and we know that homeowners play a
vital role in building safe, strong and healthy communities." GMAC supports
efforts that strengthen and give back to communities, particularly those
focused on housing, financial literacy, human services, education, youth
and the arts.
"We are grateful to GMAC for supporting the mission of Habitat for
Humanity and for joining us as, together, we create more affordable housing
opportunities with low-income families," said Jonathan Reckford, CEO of
Habitat for Humanity International. "GMAC's partnership will result in more
families acquiring a simple, decent home they can afford -- and becoming
part of the solution to their own housing needs."
Full-house sponsorships have been awarded to Habitat affiliates in
Charlotte, N.C.; Denver; Duquesne, Pa.; Minneapolis, Minn.; Sacramento,
Calif.; and Salt Lake City, as well as Mexico City. Additional funding and
GMAC volunteer support will be available from GMAC ResCap to Habitat
affiliates in Bethesda, Md.; Burbank and Universal City, Calif.; Charlotte,
N.C.; Orange County, Calif.; Dallas; Detroit; Philadelphia; Camden, N.J.;
Waterloo, Iowa; Toronto; and Sydney, Australia.
For more than 10 years, the financial and volunteer support offered by
GMAC has helped Habitat build and rehabilitate hundreds of homes.
Additionally, GMAC supports financial literacy and homeownership through
several activities including foreclosure prevention programs via GMAC
ResCap's HOPE for Homeowners initiative, the Homeownership Preservation
Foundation and financial literacy via SmartEdge by GMAC, a program designed
to educate consumers in the areas of credit, budgeting and choices
available when financing a home or vehicle. For more information on
foreclosure prevention programs call 888-995-HOPE and for more information
on financial literacy go to http://www.SmartEdgebyGMAC.com.
Some highlights of the builds that GMAC and Habitat for Humanity will
complete together this year include:
-- Minneapolis: Both GMAC Financial Services and GMAC ResCap are
sponsoring a 8 to 10-week Habitat build, which features the
construction of one complete house and four "A Brush with Kindness"
projects within the immediate neighborhood. "A Brush with Kindness" is
a Twin Cities Habitat for Humanity neighborhood outreach program in
which volunteers paint, landscape and provide minor repairs to the
exterior of homes for low-income residents at no cost to the
homeowner.
-- Philadelphia: GMAC ResCap will partner with Habitat for Humanity
Philadelphia to construct Philadelphia's first low-income LEED-
certified green homes, to be sold through zero-interest mortgages to
families in need. LEED for Homes is a voluntary rating system that
promotes the design and construction of high performance "green"
homes, which use less energy, water and natural resources and create
less waste. The benefits of a LEED home include lower energy and water
bills; reduced greenhouse gas emission; and less exposure to mold,
mildew and other indoor toxins.
About GMAC Financial Services
GMAC Financial Services is a global, diversified financial services
company that operates in approximately 40 countries in automotive finance,
real estate finance, insurance and other commercial businesses. GMAC was
established in 1919 and currently employs about 31,000 people worldwide. At
Dec. 31, 2006, GMAC held more than $287 billion in assets and earned net
income for 2006 of $2.1 billion on net revenue of $18.2 billion. For more
information, go to http://www.gmacfs.com.
GMAC ResCap is an indirect wholly owned subsidiary of GMAC and a
leading real estate finance company, focused primarily on the residential
real estate market in the United States, Canada, Europe, Australia and
Latin America. For more information, go to http://www.gmacrescap.com.
About Habitat for Humanity International
Habitat for Humanity International is an ecumenical Christian ministry
that welcomes to its work all people dedicated to the cause of eliminating
poverty housing. Since its founding in Americus, Ga., in 1976, Habitat has
built more than 225,000 houses in nearly 100 countries, providing simple,
decent and affordable shelter for more than 1 million people. For more
information, visit http://www.habitat.org.
SOURCE GMAC Financial Services
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Related links:
http://www.gmacrfc.com
http://www.habitat.org/newsroom
CONTACT:
Duane Bates of Habitat for Humanity,
+1-404-733-3079, Cell: +1-404-695-5281, dbates@habitat.org; or
Jodi Ehlers Swanson of GMAC Media Relations, +1-952-857-7343,
Cell: +1-612-240-1594, jodi.ehlers@gmacrfc.com
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