FREDDIE MAC, AREAA, COUNTRYWIDE Team up with Nonprofits to help Asian Americans in Los Angeles Become Homeowners
(Los
Angeles,
CA)
Thanks
to
a
new
homeownership
initiative
made
possible
by
many
organizations
working
together,
Soo
Han
is
the
proud
owner
of
a
new
home
in
Winnetka,
Calif.
Han
is
one
of
several
individuals
who
have
become
homeowners
through
a
collaborative
community
effort
to
increase
homeownership
in
the
Korean
American
community
in
the
greater
Los
Angeles
area.
At a ceremony today at Youngnak Presbyterian Church, Freddie Mac (NYSE: FRE) and the Asian Real Estate Association of America (AREAA) officially kicked off the homeownership initiative with Korean Churches for Community Development (KCCD), the Koreatown Youth and Community Center (KYCC), Countrywide Home Loans and Mortgage Guaranty Insurance Corporation (MGIC).
This
homeownership
initiative,
which
began
last
year,
addresses
language
and
cultural
barriers,
lack
of
knowledge
about
the
homebuying
process
and
other
challenges
faced
by
Asian
Americans.
These
barriers
are
keeping
many
Asian