"But federal legislation under consideration could stymie efforts to help Latinos and other underserved minorities, said Gary Acosta, founder of the National Assn. of Hispanic Real Estate Professionals, a trade group.
Proposed changes in government-sponsored enterprises — financial-services corporations created by Congress to reduce interest rates for specific borrowers — could limit available credit for affordable mortgages and eliminate Freddie Mac- and Fannie Mae-sponsored education and financial literacy programs lenders and nonprofit groups rely on.
Countrywide Financial Corp (casa.countrywide.com)
Bank of America (www.bankofamerica.com/espanol
Citibank (www.citibank.com/espanol)
MSN Latino Personal Finance Center (www.msnlatino.com)
KB Home (www.kbcasa.com)
California HomeFinancing Authority (www.calhfa.ca.gov)
Neighborhood Housing Services of Orange County (www.nhsoc.org)
LA Neighborhood Housing Services (www.lanhs.org)
Neighborhood Housing Services of the Inland Empire (www.nhsie.org)
NeighborWorks (www.nw.org)
ACORN (213-747-4211, ext. 215)
Hermandad Mexicana Latinoamericana (www.hermandadmexicana.com/home/homeowner.pdf)
Univision.com's Casa Channel (www.univision.com)
California Assn. of Realtors (Spanish language buyers guide available at most realty offices)
Article states:
"Qualifying for a loan sometimes takes months ... because borrowers often must finesse four layers of lending for one purchase: institutional lenders, such as Bank of America for the first mortgage; private-funding sources, such as Orange County Affordable Housing Trust, for the second; Cal HOME for 24% of the purchase price in deferred loans; and down-payment assistance such as city grants."
This, I'm assuming, is in ADDITION to the 3 or 4 family names on the title!