The Chase Home Finance Mobile Homeownership Center Drives the Benefits of Home Ownership Into Urban Communities
The Chase Home Finance Mobile Homeownership Center, a retrofitted resource center, drives the benefits of African American and Hispanic homeownership by rolling into urban communities with mortgage specialists, educational workshops and financial counseling services handled by experts from the local community. The Chase Home Finance Homeownership Mobile is a collaboration between Chase Home Finance, Freddie Mac, and The Community College Foundation.
New York(PRWEB) August 3, 2005 -- The Chase Home Finance Mobile Homeownership
Center, co-sponsored by Freddie Mac, is driving the benefits of African American
and Hispanic homeownership through its financial literacy tour into major urban
communities in the East, Midwest and South.
Although African American and
Hispanic homeownership has increased during the last decade, the April 2005 U.S.
Census indicated that African American homeownership is at 48.8 percent and
Hispanic homeownership is at 49.7 percent, both lag behind the 69.1 percent
homeownership rate of the U.S. population.
“This is an important
opportunity to educate communities on the home buying process so people can
start building equity through homeownership,” explained Tom Garvey, Executive
Vice President, Chase Home Finance. “This is a significant part of Chase Home
Finance’s $500 billion Chase Dream Maker CommitmentSM launched in 2003. It is a
pledge to help millions of traditionally underserved minorities and communities
by increasing home financing across the full economic spectrum—from low to
moderate income borrowers. Homeownership is instrumental in building wealth and
financial stability.”
Already, the Chase Home Finance Mobile
Homeownership Center has rolled its retrofitted resource center into African
American and Hispanic communities in Pennsylvania, Georgia, New York, New Jersey
and Connecticut. This summer, it will be situated in communities throughout
Chicago. The Chase Home Finance Mobile Homeownership Center features mortgage
specialists, educational workshops and financial counseling services handled by
experts from the local community. Onboard is access to a broad range of home
finance solutions: online information on the home buying process to mortgage
approval from Chase Home Finance professionals. In addition, there is credit
counseling and free check-ups on credit scores.
The Chase Home Finance
Homeownership Mobile is a collaboration between Chase Home Finance, Freddie Mac,
and The Community College Foundation. Additionally, Chase Home Finance has
partnered with local housing and credit counselors, real estate professionals,
city housing departments, churches and schools in each community.
“The
Mobile Homeownership Center brings information directly to where people live,
work, play and pray,” said Bob Tsien, senior vice president of Freddie Mac. “We
are proud to be working with Chase Home Finance on this unique approach to help
people learn the facts about homeownership.”
With the 2004 merger of
JPMorgan Chase & Co. and Bank One Corp., Chase Home Finance’s parent company
now includes more than 2,500 Bank One and Chase bank branches in 17 states.
Chase Home Finance, an Equal Housing Lender, is headquartered in Iselin, New
Jersey and is one of the nation's largest residential mortgage lenders, serving
more than four million customers.
Freddie Mac is a stockholder-owned
company established by Congress in 1970 to support homeownership and rental
housing. Freddie Mac fulfills its mission by purchasing residential mortgages
and mortgage-related securities, which it finances primarily by issuing
mortgage-related securities and debt instruments in the capital markets. Over
the years, Freddie Mac has made home possible for one in six homebuyers and two
million renters in America. For more information about Freddie Mac, visit www.freddiemac.com.
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Source : http://www.prweb.com/releases/2005/8/prweb268038.htm