Freddie Mac Launches New Homeownership Initiatives

Freddie Mac recently hit the road to launch a number of new initiatives to increase homeownership among America’s families. The states of Pennsylvania, Michigan, Florida and South Carolina will benefit from these new programs to educate and aid consumers who want to become homeowners. The most recent program launches include:

• In Philadelphia, PA, in an effort to enable more African Americans and Latinos to take the important steps toward homeownership, Freddie Mac, Chase Home Finance and the Philadelphia Council for Community Advancement (PCCA) announced a new awareness and outreach campaign in Philadelphia called "Homeownership: Let the TRUTH Move You." The campaign debunks common misconceptions about homeownership that are stopping some minority families from even considering buying a home. Congressman Chaka Fattah (D-PA) joined in the announcement.



• Faith Community HomeBuyers Program, in conjunction with National City Bank, Freddie Mac, The State of Michigan, Wayne County and the City of Detroit, announced the creation of a new initiative "Work First, Homeownership Second" designed to increase homeownership among low- and moderate-income families through outreach, education and expanded access to financing.



• Officials from the City of Spartanburg and Spartanburg County, SC joined leaders from the Spartanburg Housing Authority, Freddie Mac, Branch Banking & Trust Co. (BB&T) and The Palmetto Bank to launch a new housing initiative with the potential to help hundreds of families become homeowners. The initiative combines flexible credit mortgage products, state-of-the-art financial counseling tools and a network of non-profit organizations to reach families who think that homeownership is out of their reach. The program will be managed from the Homeownership Resource Center, a new facility created to provide residents with the information they need to become homeowners.



• In Miami, FL, Freddie Mac, HSBC Mortgage Corporation (USA), HSBC Bank USA, N.A, and Neighborhood Housing Services (NHS) announced a countywide $25 million comprehensive homeownership initiative called SHOP-MIAMI in an effort to help hundreds of local households, including minority families, become homeowners in Miami-Dade County.