Industry News

Home-buying outreach campaign sweeps across nation

Aims to increase minority home ownership through education, debunking myths

In an effort to enable more African Americans and Latinos in Louisville, Ky., and Albuquerque, N.M., to take the important steps toward home ownership, Freddie Mac has partnered with housing agencies, Realtor boards and banks for a new awareness and outreach campaign that debunks common misconceptions about buying a home. The campaign, "Homeownership: Let the TRUTH Move You" or "¿Tu propia casa? ¡Atrevete!" will provide straightforward and up-to-date information about all aspects of home ownership, including costs associated with home buying and credit history requirements through a series of one-hour educational sessions in English and Spanish. Research conducted by Freddie Mac suggests that reliable, accurate information about home buying may not be reaching minority communities. The research uncovered several common misconceptions about home buying among African Americans and Latinos. For example, about half of African Americans and Latinos believe that they need a 20 ...