Magazine article Mortgage Banking

Freddie Mac and Hispanic Organizations Launch Bilingual Initiative. (Business Alert)

Magazine article Mortgage Banking

Freddie Mac and Hispanic Organizations Launch Bilingual Initiative. (Business Alert)

Article excerpt

FREDDIE MAC HAS LAUNCHED CREDITSMART Espanol, a bilingual credit education program designed to help consumers--particularly Hispanic families and individuals--build and maintain good credit. Freddie Mac will implement the program with the help of seven national Hispanic partner organizations: the Cuban American National Council (CNC), the Hispanic Association of Colleges and Universities (HACU), the League of United Latin American Citizens (LULAC), the National Association of Hispanic Real Estate Professionals (NAHREP), the National Council of La Raza (NCLR), the National Puerto Rican Coalition (NPRC) and the United States Hispanic Leadership Institute (USHLI).

According to the U.S. Census Bureau, while 68 percent of the nation's families own their own homes, less than 48 percent of the nation's Hispanic families are homeowners. A recent survey by NAHREP, underwritten by Freddie Mac, found that barriers to Hispanic homeownership include lack of credit, language and cultural barriers and lack of information about the homebuying process.

The CreditSmart Espanol curriculum is designed to help increase consumers financial literacy by providing life-long money management skills. …

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