Freddie Mac announced on Monday the introduction of a Spanish-language version of CreditSmart—a free online tutorial that provides families with information on building savings, personal credit, making smart financial decisions and becoming successful homeowners.
Since its launch in 2001, the multilingual program has reached over three million consumers in 44 states.
“Our online Spanish CreditSmart tutorial aims to break down barriers to homeownership by targeting language barriers to sound information about building savings, credit and the financial savvy to own a home,” Christina Diaz Malone, the vice president of corporate relations and housing outreach at Freddie Mac, said. “Today’s announcement celebrates Hispanic Heritage Month by giving families new ways to prepare themselves for homeownership and long-term financial stability.”
The Spanish version of the tutorial provides educational modules on banking, household budgeting, building personal credit, understanding credit scores, obtaining a mortgage, closing a loan and avoiding credit traps. The tutorial also offers information designed to help current homeowners avoid foreclosure and succeed as long-term homeowners, as well as to maintain their homes.
The program was developed by Freddie Mac, along with five historically black colleges, universities and non-profit organizations. The new tutorial is built on the online version of CreditSmart released in April.