REALTY EXECUTIVES LAUNCHES PROGRAM TO HELP

INCREASE HOMEOWNERSHIP FOR TEACHERS

 

 Milford, MA – Patrick Allen, local teacher and Sales Associate with Realty Executives Lioce Properties, just announced the launch of HOMEWORKS, a marketing initiative piloted in Worcester, Middlesex and Norfolk Counties this past spring to help make teachers more aware of special loan programs that exist for educators in the hopes of helping teachers achieve dreams of homeownership.

 Because teachers have such a huge impact on our society, Patrick Allen has created this program to inform the consumer public about various types of loan options available for this niche population.  According to a study conducted by the American Federation of Teachers two years ago, teachers in the U.S. earn an average of just $46,597 and, last year, salaries increased at a rate lower than inflation.  First year teacher salaries averaged just $31,794.  The AFT survey also reports that over the last 10 years compensation for teachers increased at a far slower rate than salaries for other professionals.  Based on a 2005 study done by the National Association of Realtors (NAR), the average U.S. home cost $219,000 last year.  This helps to explain the struggle that many educators encounter when trying to purchase homes.

 “Our goal in creating this program is quite simply to help facilitate homeownership in the educator population,” says Patrick Allen, who is a part of the LIOCE TEAM.  “Even though teachers have such a large effect on the future of our country, our society has chosen not to compensate them well enough to afford housing easily.  Helping teachers buy homes with fewer roadblocks and in areas closer to their schools is how our company can help with this dilemma.  Being a teacher myself, I can see what many of my colleagues are up against,” added Allen.

 In addition, Patrick Allen has pledged to donate a portion of his earnings to the Mendon Upton Education Foundation, an organization committed to academic achievement.  It is a wonderful organization that helps teachers and students alike by raising funds to improve our schools.

 In the Worcester, Middlesex and Norfolk County area Patrick Allen’s HOMEWORKS has teamed up with Michael Shain with Medway Cooperative Bank to provide mortgage offerings that further discount services and provide bundled options for educators and others in the education field.  In addition, the HOMEWORKS program offers discounts on insurance, legal fees, and title insurance.  By taking advantage of the special mortgage products and initiatives highlighted by the HOMEWORKS program, teachers are afforded the opportunity to purchase homes more easily, or refinance existing homes at better terms.