NAR, Mayors Name Bowling Green, KY., An Ambassador City

WASHINGTON, July 30, 2008

The National Association of Realtors^® and the U.S. Conference of Mayors have named Bowling Green, Ky., an Ambassador City for its homeownership education and foreclosure counseling initiatives.

Bowling Green’s Ambassador designation recognizes the joint efforts of the city, Bowling Green Mayor Elaine Walker, and the Realtor^® Association of Southern Kentucky, along with lenders, nonprofits and other housing advocates, in developing the homeownership education program, “Creating a Responsible Community.” The program aims to increase and sustain the area’s homeownership through education and pre- and post-purchase financial counseling. The goal is to raise homeownership rates and minimize foreclosures in the area.

“Realtors^® build communities and are the leading advocates for housing issues,” said NAR President Dick Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif. “We commend these groups for their unique approach to help Bowling Green residents not only gain access to homeownership, but also preserve it over the long term.”

As part of the program, an upcoming “Super Saturday” event will give residents access to homeownership education and help them assess their foreclosure risk. At the event, homeowners can meet with Realtors^®, lenders and lawyers to review their mortgage terms, learn about any potential risks, and get advice on options to help minimize their chances of foreclosure. Residents will also be able to review their credit reports and receive credit counseling.

At an event today, Realtor^® Donna O. Smith, NAR regional vice president, and Realtor^® Bonnie Boyd, 2008 chair of the NAR Housing Opportunity Advisory Board, joined David Gatton, director, Council on the New American City, U.S. Conference of Mayors, in presenting the Ambassador for Cities plaque and $5,000 to Bowling Green Mayor Elaine Walker and RASK President Lonnie Gann.

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^® associations to form partnerships to promote affordable housing and homeownership.

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