'Keys to My Home' Web Site Addresses Homeownership Gaps

For Immediate Release
June 1, 2006
Contact: Sherry Saunders, NeighborWorks® America, (202) 220-2360; ssaunders@nw.org
Tina Martineau, 781 335-5721, tina.martineau@etrade.com, E*Trade

“Keys to My Home” Web Site Addresses Homeownership Gaps
Site Launches on First Day of Homeownership Month

(Washington, DC) – More consumers will soon receive much-needed help understanding the home buying rules of the road, thanks to a new Web site: www.keystomyhome.org. Through the collaborative efforts of E*TRADE FINANCIAL Corporation and NeighborWorks® America, the Web site aims to bridge homeownership gaps with bilingual, user-friendly tips and information about preparing for and maintaining homeownership.

“The ‘Keys to My Home’ Web site features a range of tools to empower consumers to get the most out of what is often the biggest investment of their lives,” said NeighborWorks America CEO Ken Wade. “Too often homebuyers feel rushed and forced to make decisions without thoroughly evaluating their own financial positions and the options available to them. 'Keystomyhome.org' provides customized budget tables that fit the unique needs of each consumer. This tailored approach is consistent with the intensive personal attention NeighborWorks provides. It’s the perfect blend of technology and a human touch.”

“Resources like ‘Keys to My Home’ help bridge the digital divide, empowering individuals to pursue the American dream of owning a home,” said Arlen Gelbard, Chief Administrative Officer, E*TRADE FINANCIAL Corporation. “In collaboration with NeighborWorks, E*TRADE FINANCIAL is increasing homeownership opportunities by providing financial literacy and mortgage assistance to potential homebuyers.”

Tools and resources on “Keys to My Home” include: “The Top 10 Secrets to Homeownership,” “The Top 10 Questions to Ask Your Lender,” “What Kind of Home Insurance Do You Really Need,” mortgage loan affordability and debt calculators, a mortgage comparison worksheet and more. The tools are based on the “Realizing the American Dream” curriculum developed and used by NeighborWorks Center for Homeownership Education and Counseling. The English version of the Web site launches today; the Spanish version will be available later in the summer.

The “Keys to My Home” web site is one of three public education initiatives supported by E*TRADE FINANCIAL and NeighborWorks America. In addition, E*TRADE FINANCIAL together with NeighborWorks America will create neighborhood computer lab homebuyer kiosks in target minority and low to moderate-income markets and will provide educational forums for community development practitioners through the NeighborWorks Training Institute.

About NeighborWorks® America

NeighborWorks America provides financial support, technical assistance and training for communities across the nation, including the NeighborWorks network – a nationwide network of more than 240 community development organizations working in more than 4,400 urban, suburban and rural communities across America. These organizations engage in revitalization strategies that strengthen communities and transform lives. In the last five years alone, NeighborWorks organizations have generated more than $10 billion in reinvestment and helped more than 780,000 families of modest means purchase or improve their homes or secure safe, decent rental or mutual housing.