Chicago Community Housing Fair Helps Latino Families Buy and Keep Their Homes

Congressman Luis Gutierrez joins CHCI to Discuss Benefits of Homeownership

WASHINGTON, D.C. – – Hon. Luis Gutierrez (IL-4) will join The Congressional Hispanic Caucus Institute (CHCI), the nation’s premier Hispanic youth leadership development and educational organization, at its Community Housing Fair at the Rauner Family YMCA in Chicago, IL, Saturday, April 28th, from 10:00 a.m. to 1:00 p.m. Attendees will have the chance to learn — in English and in Spanish — about opportunities to purchase their first home, avoid predatory lenders and prevent mortgage foreclosure. The family-oriented fair is a product of CHCI’s HOGAR program, a housing initiative that seeks to ensure that Latinos share equally in the American dream of homeownership.

While the number of financial assistance programs for first-time homebuyers has increased in recent years, the rate of homeownership for Hispanics continues to lag behind the national average — 49.5 percent, compared to the national average of 68.9 percent. Additionally, the recent spike in foreclosures nationwide demonstrates the need for culturally appropriate consumer education.

HOGAR is committed to increasing Hispanic homeownership by providing tools and resources that address barriers to Hispanic homeownership. One such tool, CHCI’s Housing Resource Directory, will launch at Saturday’s fair. The Directory outlines housing assistance programs in five major U.S. cities, including Chicago.

Spanish for “home,” HOGAR has three complementary components: 1) a fellowship program which develops Latino leaders in the housing and finance fields; 2) community housing events that both increase financial literacy and improve consumer understanding about the mortgage process; and 3) research and policy analyses that address homeownership barriers Latinos face and the opportunities that exist for them to become homeowners.

About Congressional Hispanic Caucus Institute
Congressional Hispanic Caucus Institute (CHCI), a nonprofit and nonpartisan 501(c) (3) organization, provides leadership development programs and educational services to students and young emerging leaders.  The CHCI Board of Directors is comprised of Hispanic Members of Congress, nonprofit leaders and corporate executives.  For more information call CHCI at (202) 543-1771 or visit www.chci.org.