AmeriDream Reaches out to Minority Population

AmeriDream, Inc. is extending a helping hand to nonresident Hispanics and other immigrant homebuyers by accepting Individual Taxpayer Identification Numbers issued by the Internal Revenue Service to individuals who do not have a Social Security Number.The Gaithersburg, Md.-based affordable housing solutions provider said it is responding to market demand. AmeriDream quoted findings by a National Association of Hispanic Real Estate Professionals study suggesting that immigration status creates major barriers to homeownership, so a growing number of lenders are accepting ITINs as a form of identification. (ITINs are issued regardless of immigration status allowing both resident and nonresident aliens to have U.S. tax returns and payment responsibilities under the IRS.) "We recognize that the use of ITINs can be a controversial issue," said AmeriDream president and CEO, Ann Ashburn. "However, there have been an increasing number of private lenders throughout the country that have begun ITIN loan and mortgage insurance programs."