Twin Cities Habitat for Humanity and GMAC Dedicate 2007 Legacy Home in North Minneapolis
WHO: Twin Cities Habitat for Humanity (TCHFH)
Zeba Amini, homebuyer
GMAC Financial Services
GMAC ResCap
Volunteers, sponsors and supporters from the faith community,
businesses, local schools
WHAT: The “home dedication” is a celebration of the build project,
which has engaged hundreds of volunteers in North Minneapolis,
culminating in the completion of a home for one hard-working,
low-income family.
WHEN: Thursday, January 10, 6:00 – 7:30 p.m.
WHERE: 2134 Irving Ave North, Minneapolis, Minn.
In 2007, GMAC Financial Services and GMAC ResCap, its Minneapolis-based real estate finance subsidiary, partnered with Twin Cities Habitat for Humanity through a Legacy Sponsorship. GMAC underwrote the cost of construction for a single family home and additional repairs on four homes through TCHFH's A Brush With Kindness program, a neighborhood outreach service that offers painting, landscaping and minor repairs for qualifying low-income homeowners.
About Twin Cities Habitat for Humanity
The mission of Twin Cities Habitat for Humanity is to eliminate poverty housing from the Twin Cities and to make decent, affordable shelter for all people a matter of conscience. Volunteer labor, donated materials and contributed funds are used to build and renovate homes in the Twin Cities area. Working under the faith-based principle that no profit should be gained from assisting those in need, Habitat for Humanity charges no interest on the mortgages that it issues to homebuyers. Families who purchase Habitat homes are selected based on need, ability to repay the zero percent mortgage, and willingness to partner. Families put in 300-500 hours of “sweat equity” helping to build Habitat homes. Since 1985, TCHFH has built more than 680 homes in the seven-county metro area and engages more than 20,000 volunteers a year. For more information, visit www.tchabitat.org.
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 commercial finance 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, please go to http://www.gmacfs.com.
GMAC ResCap (Residential Capital, LLC) is a leading real estate finance company, focused primarily on the residential real estate market in the United States, Canada, Europe, Australia, and Latin America. The company's diversified affiliates and businesses — GMAC-RFC, GMAC Mortgage, LLC, Ditech, GMAC Bank, GMAC Real Estate, and Homecomings Financial, LLC — cover the spectrum of the residential finance industry, from origination and servicing of mortgage loans through their securitization in the secondary market. GMAC ResCap also provides capital to other originators of mortgage loans and residential real estate developers. For more information, please go to http://www.gmacrescap.com.
For more information contact:
Sharon Rolenc, Twin Cities Habitat for Humanity
612-331-4090 ext. 626 or 612-720-2083
pr (at) tchabitat (dot) org
SOURCE GMAC ResCap
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