6/16/2004 - FAIR PROMOTES HOMEOWNERSHIP FOR HISPANICS

Washington, D.C. – The National Council of La Raza (NCLR), the largest national Hispanic civil rights organization in the U.S., will host a Homeownership Fair as part of the Latino Expo USA at the 2004 NCLR Annual Conference, which will be held June 26-29 in Phoenix, Arizona. The Homeownership Fair, sponsored by Washington Mutual, will take place on Saturday, June 26, and Sunday, June 27 from 10:30 a.m. to 6:00 p.m., at the Phoenix Civic Plaza.

The Homeownership Fair, which is open and free to the public, will feature information on every step of the homebuying process, from building a credit history to managing mortgage payments. Counselors from the NCLR Homeownership Network, who speak English and Spanish, will review people’s homebuying options with them, and can check credit reports and help create budgets.

Representatives from the banking and insurance industries will have information available on financing and insurance options. The Homeownership Fair’s co-sponsors include Bank One, Countrywide Home Loans, Espanol.hud.gov, Fannie Mae Corporation, Irwin Mortgage, People’s Choice Home Loan, Inc., PMI Mortgage Insurance Co., and Shelter Mortgage.

According to the U.S. Bureau of the Census, Hispanic homeownership grew to 46.7% as of December 2003. Despite rapid growth, this rate is significantly below the nation’s overall rate of 68.3%. NCLR has identified various barriers to Hispanic homeownership, including poor consumer education, low incomes and high housing costs, discrimination, and a lack of outreach to the Latino market. Public- and private-sector initiatives are improving the process for Hispanics and are making more resources like the NCLR Homeownership Network available to Latinos.

MEDIA ADVISORY
WHAT: Homeownership Fair at the 2004 NCLR Annual Conference
WHEN: Saturday, June 26 and Sunday, June 27 from 10:30 a.m. to 6:00 p.m.
WHERE: Latino Expo USA, Exhibit Halls A & B, at the Phoenix Civic Plaza
WHO: NCLR Homeownership Network; Washington Mutual; and many others.

Members of the media interested in credentials for the NCLR Annual Conference should contact Christy Martinez-Garcia at (202) 785-1670, or via email at christymartinez@nclr.org.

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