Yes....you read the title correctly. Apparently Freddie Mac is using the Spanish TeleNovela to teach Hispanics about credit, homeownership and other financial principles. For the uninitiated, a TeleNovela is sort of like a soap opera except that the main theme often reaches a conclusion by show's end unlike All My children.
Nuestro Barrio will use a popular media vehicle to educate and promote homeownership amongst Hispanics. "We really see it as responding to the needs of Hispanic households," said Vaughan Iron, Freddie Mac's national director for expanding markets. "We have lenders who are saying that they want to serve these underserved households, and the reason we are doing this now is to bridge the gap between the people who want home ownership and institutions that want to service them."
Freddie Mac, a government sponsored entity responsible for buying and securitizing mortgage loans is assisting in the project by underwriting some of the costs. "We knew that we couldn't reach the marketplace with just another brochure and with a Latino in front of it and with the same message that everyone else is putting out," Iron said. "That's how we got into Nuestro Barrio."
Producers hope to be able to provide DVDs of the show to homebuyer counseling centers and other community outreach centers. Nuestro Barrio will begin airing on September 27th in Dallas, Arizona, Florida and Georgia. You can learn more about the program, show times, channels and educational initiatives at http://www.nuestrobarrio.tv/
©2006 Ken Stampe
Ken Stampe is a Mortgage Loan Originator, Mortgage Author and Mortgage Loan Officer Instructor living in Dallas, TX. Ken provided his first client a mortgage loan in 1996 and writes about home buying and mortgages to help clients make smart home mortgage loan decisions. Contact by email Ken@MortgageLoanDallas.com
What resource do SMART home buyers use?... Mortgage Calculator Bank.com
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