HLP, Freddie Mac, the Hispanic Action Outreach Network, and NFL Hall of Famer Tim Brown announced a partnership designed to help low and moderate-income African-American and Hispanic families buy their own homes.
The parties are joining together to form a financial education project called the American Dream Homeownership Initiative.
The American Dream Homeownership Initiative will host a series of financial education events in eight cities over the next 12 months, starting Dec. 5 in Oakland, California.
Brown, who starred as a wide receiver with the Oakland Raiders and now runs the Tim Brown Foundation, is acting as the group’s lead spokesperson.
According to a release from HLP, a national non-profit organization, anyone can attend the free, one-day financial education program on Dec. 5, which is designed to help them understand how to qualify to buy a home.
Similar events are scheduled in 2016 in Miami, Los Angeles, Las Vegas, Chicago, Detroit, Dallas-Fort Worth and San Antonio.
According to HLP, the one-day program will include information from several mortgage and housing professionals on a wide range of financial topics.
At the conclusion of each event, a financial counselor will assess each person’s financial condition to determine if they qualify for a mortgage loan. Those that qualify will receive information on how to connect with mortgage lenders.
“Homeownership rates have reached a 48-year low and many low- and moderate-income families that want to buy a home have been left behind,” said Cam Melchiorre, HLP’s president and chief executive officer.
“With Tim Brown generating enthusiasm in his community and around the nation, and with Freddie Mac’s support, we want to reverse that trend,” Melchiorre said. “Our programs will give people the financial education needed to qualify for a mortgage and buy a home.”