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Freddie Goes Bilingual

June 14, 2002

Mortgage Lender Launches Spanish Home Buyer Education Web Site

Inman News Features

Freddie Mac today launched a Spanish language version of Freddie Mac's homebuyer education Web site El Camino a su Propia Casa. (

The Web site provides comprehensive information about the home buying process and aims to increase homeownership among Hispanic families.

Less than 48 percent of the nation's Hispanic families own their homes, compared to an overall homeownership rate of 68 percent, according to Freddie Mac.

"Freddie Mac is committed to helping America's communities by providing the tools to overcome cultural and language barriers to homeownership," said Dwight Robinson, SVP of corporate relations at Freddie Mac. "By creating the first educational site in Spanish, Freddie Mac is helping Hispanic families to realize the dream of owning a home and strengthening the foundation for a more prosperous America."

The site leads consumers through the homeownership process that begins with making the decision between purchasing a home or renting, learning about the importance of credit, shopping for a mortgage and finding the right home.

The Web site was launched with the support of the Cuban American National Council, the League of United Latin American Citizens, the National Association of Hispanic Real Estate Professionals and the National Council of La Raza.

The supporting organizations will promote the Web site to their members and will incorporate the tool into job training and community-based homeownership initiatives. Web site consumers will be referred to these organizations if they require additional information or support.

More than a year ago, NAHREP, an organization of more than 10,000 Hispanic real estate professionals, released a study funded by Freddie Mac of its membership that showed the leading barrier to homeownership among Hispanics is a lack of information about the home buying process.

"Fifty percent of Hispanics in the United States prefer to communicate in Spanish," said Ernest J. Reyes, chairman of NAHREP. "Language barriers and a lack of information about the home buying process are two primary challenges that confront Hispanic consumers. We support Freddie Mac in their effort to make relevant homebuyer information readily available for all."

"This is the most comprehensive Spanish-language site for this type of information. Both the Spanish and English versions of the Web site are exceptional sources of information about homeownership -- this is a tremendous resource for our community," said Brent Wilkes, executive director of LULAC who will use the site in education centers and job training programs in 600 locations throughout the United States.

Copyright: Inman News Service

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