Freddie Campaign Moves to Birmingham

Freddie Mac has announced that its "Homeownership: Let the TRUTH Move You" campaign has been launched in Birmingham, Ala., to help debunk misconceptions that stop many African-Americans and Latinos from considering buying a house.The campaign, which was unveiled in April in Los Angeles, is being co-sponsored in Birmingham by the Birmingham Urban League and AmSouth, a regional bank holding company. "It's critically important for us to get the right information about homebuying into our communities," said Elaine S. Jackson, president and chief executive officer of the Birmingham Urban League. "Buying a home can be intimidating, and knowing what information to trust can be challenging." Freddie Mac said its research has found that it is widely believed among Latinos and African-Americans that they need a 20% downpayment to buy a home and nearly perfect credit to get a loan. The campaign will provide information about all aspects of homeownership through a series of one-hour educational sessions in English and Spanish. Freddie Mac can be found online at http://www.freddiemac.com, and AmSouth can be found at http://www.amsouth.com.