Homeownership represents financial security for Latino families and a better life as they work every day to achieve the American Dream.
Homeownership is great for Latino families and for society as a whole as it fosters investment in the community, as well as safe and stable neighborhoods.
For NCLR’s National Homeownership Network (NHN), this is an integral part of our mission.
NHN helps Latino families purchase a home and reduces the large homeownership gap between White and Latino owners.
Homeownership rates had been steadily increasing until the foreclosure crisis in 2007 hit. Since then, the rate of Latino homeowners has dropped significantly. According to the State of Hispanic Homeownership Report, in 2012, the rate of Latino homeownership was down to 46.1 percent.
Why Does Mel Watt Continue to Waver on Homeowner Relief?
More than five million homeowners in the United States are paying much more for their homes than they are worth.
Ironically, one of those homeowners is Sylvia Alvarez, who heads the Housing & Education Alliance, a leading housing counseling agency in Tampa, Fla., and an NCLR Affiliate.
Alvarez and her dedicated staff have helped many families escape unsustainable mortgages.
Alvarez is an ideal candidate for principal reduction, but she cannot get help because her mortgage is owned by Fannie Mae. Most of the largest banks have granted some families principal write-downs, understanding that reducing the principal on a home for a struggling homeowner is a win-win.
Families stay in their homes, continue to pay their mortgages, and stabilize the economy.
April 2015 Latinomics: Tax Time!
It’s tax time, the perfect occasion to highlight the importance of the Child Tax Credit and the Earned Income Tax Credit to Latino working families. These credits encourage work, keep millions of families out of poverty, and have lifelong benefits for kids and families.
In recent months, NCLR has worked to ensure home care workers were not excluded from minimum wage laws and released a report on the remarkable resilience of Latino youth in the face of adversity. When congressional proposals threatened to weaken crucial gainsmade by the Consumer Financial Protection Bureau (CFPB), our network stood strong in preserving consumer rights.
Thanks for all your support. Read on to see what’s new in Latinomics!
The Power of Refundable Tax Credits
This tax season, those of us expecting a refund probably filed our taxes earlier than the April 15 deadline. Millions of low- and moderate-income workers will qualify for the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC).