Freddie, Chase Launch LA Campaign

Freddie Mac and Chase Home Finance have announced a new campaign in Los Angeles to debunk what they termed common misconceptions that stop minority families from even considering buying a home.Called "Homeownership: Let the TRUTH Move You" (or "Tu propia casa: Atrevete!"), the campaign is designed to address misconceptions identified by Freddie Mac research, such as notions widely held among Latinos and African-Americans that they need a 20% downpayment to buy a home and nearly perfect credit to get a loan. The new initiative will provide information about all aspects of homeownership through a series of one-hour educational sessions in English and Spanish. "We can't allow misinformation to be a barrier to the families who may want to buy a home," said Craig Nickerson, vice president of expanding markets at Freddie Mac. Also participating in the campaign are the Los Angeles Neighborhood Housing Service, ACORN Housing, Hyde Park Organizational Partnership for Empowerment, and the National Association of Hispanic Real Estate Professionals. Freddie Mac can be found online at http://www.freddiemac.com.