Outreach Program for Latino Home Buyers

In an effort to increase homeownership among Latino families, Freddie Mac, the National Council of La Raza and RealEstateEspanol.com have joined forces to launch a national outreach program called the Hispanic Community Technology Initiative. Freddie Mac, the nation’s second-largest buyer of home mortgages, will provide $2 million over three years to develop a Web-based technology that will give Latinos greater access to a wide range of mortgages. The initiative, supported by Rep. Lucille Roybal-Allard (D-Los Angeles), chairwoman of the Congressional Hispanic Caucus, will help reduce the time and cost necessary to get a home loan. The program will include counseling and outreach programs in Latino communities nationwide.