Faith-Based NJ Homeowner Effort Launched

A $25 million faith-based initiative to help families in the New Jersey area become first-time homeowners has been launched by Faith Fellowship Community Development Corp., Wells Fargo Home Mortgage, and Freddie Mac.The program, Faith to Home, is designed to "help families to overcome multiple barriers to homeownership, including impaired credit, inadequate savings for a downpayment, and a lack of information about homeownership and confidence in their ability to become homeowners," Freddie Mac said. The initiative combines $25 million in flexible, low-downpayment mortgages through Wells Fargo and Freddie Mac with Freddie Mac's CreditSmart financial literacy program. Freddie Mac can be found online at http://www.freddiemac.com.