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Statement of Congresswoman Linda Sánchez on CHCI and Fannie Mae Housing Initiative

September 23, 2003
Press Release
“Thank you. I want to commend the CHCI and Fannie Mae for their hard work and dedication to helping Latino families toward achieving the American Dream of owning their own home. I’m thrilled to be a part of such a worthwhile and important program. This Initiative will help to educate Latino families about personal finance and will help them gain access to mortgages, down payments, and housing markets.

The National rate of home ownership is 68%. The home ownership rate for Latinos drops all the way down to 46%. Almost two thirds of my district is Latino. Too many of these families are locked out of the homebuyer’s market. These are families who want to buy a home, but they don’t know how. They don’t know how to get a mortgage; they don’t know how to come up with the down payment; they don’t know how to find a house they can afford. These families don’t have access to the financial tools that many of us may take for granted. CHCI’s National Housing Initiative will go a long way toward making home ownership a reality for these families

The National Housing Initiative will make it possible for so many families to achieve the dream of home ownership. Home ownership is such an important part of the American Dream. Families who own their own homes haven’t just made an investment a house, they have made an investment in their community. When families own their own homes, they build safe neighborhoods, good schools, and strong families.

Owning a home is a dream that is out of reach for far too many families. And I’m proud to support a program that will help families realize their dreams.