Preventing Home Foreclosure in the Latino Community, CHCI Novella Depicts Lessons in Financial Literacy

“Today, the Congressional Hispanic Caucus Institute (CHCI), the nation’s premier Hispanic youth leadership development and educational organization, announced the debut of a unique tool to increase financial literacy within the Latino community. The 24-page novella, “True Life Stories,” looks and reads like a traditional comic book with mass-appeal; however the bilingual collection of four vignettes presents real-life scenarios of financial crises.

As rates of Latino homeownership lag far behind those of non-Hispanic whites, “True Life Stories” aims to address a major contributor to the discrepancy: inadequate financial literacy.

CHCI will hold a press conference Wednesday, June 20 at 10:00 a.m. on the Cannon House Office Building Terrace to debut “True Life Stories” and discuss the state of Latino homeownership in the United States. Distinguished speakers will include Congressman Joe Baca (CA-43) and Former Housing Secretary Henry Cisneros, who reformed the public housing system under the Clinton administration.

“Homeownership is the primary means by which households in the United States achieve financial security and communities achieve stability,” said Cisneros. “While the number of flexible loan products and homeownership financial assistance programs has substantially increased, the homeownership rate for Hispanics continues to lag significantly behind the nation’s overall rate. Tools like this novella help us to bridge that gap.”

HOGAR, Spanish for home, aims to increase the rate of homeownership for Hispanics in the United States. “True Life Stories” was created through HOGAR’s Fellowship Program, which develops Latino leaders in the housing and finance fields. The novella will be available through CHCI’s Web site, http://www.chci.org/, and distributed through housing and advocacy groups throughout the Latino community nationwide.

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/. Congressional Hispanic Caucus Institute

CONTACT: Rebecca Dreilinger of Congressional Hispanic Caucus Institute,
+1-202-543-5413, rdreilinger@chci.org

Web site: www.chci.org/ “

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