By Dave Gatton
December 17, 2007

At the annual Partners in Homeownership Awards Luncheon on November 27, Fayetteville (AR) Mayor Dan Coody and National Association of Realtors (NAR) President-elect Charles McMillan presented the Ambassadors for Cities plaque to Fort Smith (AR) Mayor Ray Baker and Fort Smith Board of Realtors (FSBOR) President Jane Matlock for the Fort Smith Homebuyers Assistance Program.

The Homebuyers Assistance Program was created by Fort Smith, the FSBOR, and the Crawford'sebastian Community Development Council, a local community action agency. The program aims to help combat low homeownership rates in Fort Smith, which are well below state and national averages. Since 1997, the program has helped more than 200 families purchase homes.

Many of Fort Smith’s residents face significant challenges to homeownership, including credit concerns and down payment and closing costs. The Homebuyers Assistance Program directly address these challenges by providing certified housing counselors to help potential homeowners learn about different mortgage products as well as obtain low-interest financing.

The Fort Smith-FSBOR partnership has also produced an annual home buying fair with education workshops as well as fair housing initiatives to help increase minority homeownership. In addition, buyers can participate in a five-week financial fitness course on budgeting, money management, credit and predatory lending.

The U.S. Conference of Mayors through its Council for the New American City, and NAR launched the Ambassadors for Cities Program in 2004 to encourage cities and local realtor associations to form partnerships to promote homeownership and increase affordable housing in their communities.