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San Jose (CA) Homeownership Event Targets Opportunities for Hispanics in Metro AreaWashington, D.C. – The Congressional Hispanic Caucus Institute’s (CHCI) national housing initiative, HOGAR, Spanish word for ‘home’ and acronym for Homeownership a Growing American Reality, together with the Mexican American Community Service Agency (MACSA), are co-sponsors of today’s event, “Opening the Doors to Homeownership Opportunities for Hispanics.” Local, state, and federal housing industry officials, corporate lenders, and consumers will convene at the MACSA Youth Center, 660 Sinclair Drive, San Jose, for this day-long event, with the goal of increasing awareness of the homeownership process among Hispanics in this region. HOGAR is a bipartisan, multi-tiered strategy to develop solutions to address homeownership obstacles faced by Hispanics. Participants will have the opportunity to attend five different workshops such as Budget Planning for your Home Purchase, The Home Buying Process, Your Rights as a Homeowner and others. The workshops will run from 12 p.m. to 3:20 p.m. and each will be repeated at three different times. Dignitaries such as the Vice Mayor Cindy Chavez, CHCI Chairwoman, Hon. Grace Napolitano (CA-38), and Hon. Zoe Lofgren (CA-15) will be in attendance. During these workshops, attendees will use two new educational tools developed specifically for the Hispanic market by Senior Fellow and co-coordinator of this event, Rebecca Villalpando—Financial Tips: Avoiding Common Mistakes Latinos Make and If You Can Plan a Quinceanera, You Can Put Together Your Own Mortgage Package. “I found that one of the best ways to relate to Latinos and begin educating them about homeownership opportunities was through our common cultural events. Almost all Latinos have attended, participated in, or had a relative host a quinceanera. These 15-year old debut parties require detailed budgeting and typically are planned a year in advance,” remarked Rebecca Villalpando. Given the ever-increasing housing prices in San Jose and Silicon Valley—a single family home price climbed 17%; from $543,650 in 2004 to $655,000 in 2005—homeownership has become difficult for middle-income families and nearly impossible for those with low-incomes. “HOGAR, while only two years old, continues to expand the homeownership opportunities for Hispanics nationwide, and has positively impacted affordable housing prospects through its educational outreach events and partnerships with community-based organizations, lenders, and other housing agencies. By bringing these entities together, all parties benefit, and especially the Hispanic consumers,” emphasized CHCI President and CEO Esther Aguilera. MACSA CEO Olivia Soza-Mendiola agreed with the importance of partnerships and added, “One of the most universal American dreams of families is homeownership and homeownership is the first step toward financial independence. I believe that collectively government, nonprofits and for-profit entities can make this dream a reality. First we collectively envision housing abundance for all, and that vision needs to be followed with a commitment to develop affordable housing and the development of venues for families to acquire the financial knowledge to prepare them for homeownership. An event such as, “Opening Doors,” puts this vision into action and is a reflection of cross-sector collaboration leading the efforts in providing community with the tools needed to fulfill this American dream. About CHCI: About MACSA: ###
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