Family & Living

June, 25, 2007 - 08:00 AM / ET

New Homebuying Resource for Hispanic Consumers is Introduced
Mortgage Bankers Association announces

Washington, DC--(HISPANIC PR WIRE)--June 25, 2007--During - the next decade, more Latinos will become first-time homebuyers than any other ethnic group. Now, there is a new online resource available in Spanish to help homebuyers sort out the multitude of details that can make buying a home confusing and intimidating. The Mortgage Bankers Association (MBA) announced today the launch of its new consumer Web site for U.S. Spanish speakers,, that provides information in a simple, easy format to help consumers understand all aspects of homebuying and homeownership. Topics include basics of homebuying, the importance of credit records, finding the right home, finding a mortgage lender and identifying which type of loan best fits a consumer’s financial situation.

“The Mortgage Bankers Association is committed to helping all Americans realize the dream of homeownership,” said Cheryl Crispen, Senior Vice President of Communications and Marketing. “This new educational resource will give Spanish-speaking Americans who want to become homeowners the knowledge they need to confidently begin planning the purchase and financing of their new home.”

The new Web site also deals with a sensitive issue faced by some homeowners: Difficulties in making mortgage payments. Many Americans have problems making their mortgage payments and face the possibility of foreclosure and losing their home. Most frequently, this is a result of changes in their life situation, including a change in employment status, personal or family illness, natural disasters, or an adjustable rate mortgage where the payment simply becomes to much for the borrower to afford. provides useful information on how to deal with troublesome situations. In the privacy of one’s own home, Hispanics can get the information they need to successfully meet the challenges that confront them.

Developed by MBA’s team of industry and consumer experts, provides Latino consumers with information on the mortgage process; an explanation of credit scores and how to improve them; finding a lender; and laws that protect consumer rights.

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 400,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership prospects through increased affordability; and to extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters excellence and technical know-how among real estate finance professionals through a wide range of educational programs and technical publications. Its membership of approximately 2,700 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, life insurance companies and others in the mortgage lending field. For additional information, visit MBA’s Web site: