The percentage of Americans who own a house is at an all-time high, and blacks and Latinos are buying at a faster rate than the rest of the nation. That's the good news.
The reality is that minorities are still way behind whites in home ownership. Last year, 72.6 percent of whites owned a house, but only 46.1 percent of blacks and 44.7 percent of Hispanics.
Government agencies are pushing hard to get the numbers up and lenders are feeling the pressure. The result is a lot of opportunities for savvy minority families who want to buy a house but need a little help before they can move in.
Last month, for example, both of the big secondary mortgage lenders - Fannie Mae and Freddie Mac - announced they have linked up with the NAACP to help more blacks, Hispanics and other minorities become homeowners. They will do this by making a lot of money available as well as financial counseling and education.
You can find out more about the program through Community Development Resource Centers run by the NAACP in eight cities:
Atlanta (404-768-5755)
Austin, Texas (512-477-5541)
Baltimore (410-602-9300)
Charlotte, North Carolina (704-525-6800)
Columbia, South Carolina (803-252-0666)
Fort Lauderdale, Florida (954-583-6586)
Gary, Indiana (219-881-2356)
Richmond, Virginia (804-648-1825)
Many of these centers cover the entire state, but if you live in an area not included, you may still be able to get help through Fannie Mae, which offers a variety of programs to help low-income families buy houses. For information and free brochures, call toll-free 800-832-2345.
(Distributed by Scripps Howard News Service.)
