Freddie Mac announced Monday its new free, online tutorial called CreditSmart, that will provide working families and new or inexperienced borrowers with the basic information they need to buy their home.
CreditSmart will include information on building savings, personal credit and making wise financial decisions. The online tutorial is a comprehensive, multilingual financial educational curriculum, reaching more than 3 million consumers in 33 states.
Christina Diaz Malone, Freddie Mac’s vice president of corporate relations and housing outreach, said, "Our new online CreditSmart tutorial is a stepping stone to homeownership, especially for working families who are unsure how to start household budgets or build the personal savings and strong credit for the future."
She added, "Today's announcement underscores Freddie Mac's commitment to help America's next generation of borrowers achieve long-term financial stability."
For future borrowers, the online tutorial includes advice on topics such as banking, budgeting and credit.
For current homeowners, it is tailored to helping them avoid foreclosure, maintaining their home and succeeding as homeowners.