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New Company to Help Hispanics Overcome Homeownership Hurdles
By Alton Gary Simpson
LOS ANGELES--Lexicon Marketing Group has created a mortgage brokerage company, Su Hogar sin Barreras Mortgages Inc., to help place Hispanic families on the path to homeownership. Su Hogar sin Barreras Mortgages Inc., which translates to "Its Homes without Barriers," is focused on breaking down the barriers of homeownership facing the growing Hispanic community. According to the U.S. Census Bureau, the homeownership rates of Hispanics has increased to 49.5% as of 2005; however this lags behind the homeownership rate of non-Hispanic whites, which stands at 75.8%.
"This company was founded on the belief that by providing Hispanics with the right tools and education, they can succeed and achieve their dreams for a better future," said Valeria Rico, president of Lexicon Marketing and Su Hogar sin Barreras. "We are pleased to be able to offer our market a trustworthy source of information and service for one of the most important decisions a Hispanic family will make."
Su Hogar sin Barreras will draw upon the extensive experience of its parent company, Lexicon Marketing Group, which was founded in 1974 with the goal of serving the educational needs of the Hispanic community in the United States. The new mortgage company's team of bilingual professionals is committed to finding their clients the most appropriate loan program for their particular economic situation under the most favorable terms. Su Hogar sin Barreras educates potential borrowers about the home buying process by providing them with easy-to-understand information in Spanish.
The brokerage will also provide sound financial advice on overcoming one of the biggest obstacles to homeownership facing Hispanic homebuyers: establishing a credit history. Its service integrates practical education and first-rate financial services by teaching consumers the importance of establishing and maintaining a good credit history in order to qualify for a loan at the most favorable rate, explaining the risks and consequences of becoming overextended and non-payment, as well as many more valuable financial literacy skills. Customers will also enjoy face-to-face communication that personalizes their experience and ensures the security and privacy of their information.
Su Hogar sin Barreras is partnering with lenders such as IndyMac Bank FSB's Hispanic wholesale division, GrupoMac, to help realize the company's goals. GrupoMac provides diverse loan products and comprehensive service to mortgage brokers and emerging bankers serving 31 million Spanish-speaking U.S. residents.
"This is a wonderful opportunity for Indymac Bank, our commitment to brokers and emerging bankers who serve Hispanic communities will be second to none, and we are dedicated to providing the right products and services to make their business a success," said Mark Mozilo, chief executive, GrupoMac at Indymac Bank.
After the loan has closed and Su Hogar sin Barreras' clients have moved into their new homes, the company intends to continue supporting their growing and changing needs with products and services from Lexicon Marketing. Among the services that Lexicon Marketing offers are opportunities in the areas of education, well-being and financial prosperity.
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