Freddie Mac and the Bank of Albuquerque are working together with the Greater Albuquerque Housing Partnership and United South Broadway Corporation to better educate the Hispanic community on homeownership with a newly produced telenovela.
The 13-episode telenovela, or television soap opera, Nuestro Barrio, is a mix of “hot storylines” combined with important life lessons on a variety of financial topics including banking, credit, mortgage and homeownership.
In the show, the characters successfully learn how to achieve their dream of homeownership, while recognizing and avoiding harmful predatory lending practices.
“The housing market is changing, and the mortgage industry is always looking for new and creative ways to reach potential homebuyers,” said Craig Nickerson, vice president of Expanding Markets at Freddie Mac, in a release.
“Educational telenovelas are a unique way to reach the growing Hispanic marketplace with accurate information and to help close the homeownership gap.”
Mortgage financier Freddie Mac funded the production of Nuestro Barrio, which was produced by The Community Reinvestment Association of North Carolina (CRA-NC), a non-profit consumer advocacy organization.
“This series is a creative and exciting opportunity to reach out to the rapidly growing Hispanic segment of homebuyers,” said Louis Kolker, executive director of the Greater Albuquerque Housing Partnership.
“Programs like this are particularly important at a time when financial education is crucial to getting and keeping people in their homes.”