In a partnership to make $2 billion in affordable mortgages available to 35,000 minority and low-wealth home buyers nationwide, the Ford Foundation has joined forces with Self-Help, a North Carolina-based nonprofit community development organization, and Fannie Mae.The Ford Foundation will make a $50 million grant to expand Self-Help's Home Loan Secondary Market Program nationwide. Fannie Mae has made a commitment to purchase or securitize the total $2 billion in loans Self-Help will acquire. The Ford Foundation's website address is http://www.fordfound.com and Self-Help's is http://www.self-help.org.
Processing Content
