Iselin, NJ, September 12, 2007 -- Chase, one of the nation's leading residential housing lenders, is wrapping up its national four-city tour of educational seminars designed to show African Americans how to establish and preserve their legacies through homeownership.
The tour will be in New York on Saturday, September 29, at One Chase Manhattan Plaza (at cross streets Liberty Street and William Street) from 9 a.m. to 3 p.m. While admission is free, pre-registration is required at www.chase.com/legacy.
The Legacy of Homeownership Tour presented by Chase is a one-day event that includes informational workshops, one-on-one consultations with mortgage experts, onsite loan pre-approvals and displays of a wide array of local housing properties. Lynnette Khalfani, best-selling author and financial expert, is the featured speaker for the tour and will educate renters, buyers and current homeowners on ways to eliminate debt and achieve true financial freedom through homeownership.
"At Chase, we want to contribute to the economic growth of the communities we serve, as well as increase opportunities for African Americans to build generational wealth through homeownership," said Thasunda Duckett, Chase senior vice president. "We are committed to helping consumers establish and preserve their legacies by investing in the American Dream."
According to a recent study by Moody's Economy.com and the National Association of Realtors, New York City ranked ninth as the best market for buyers , Chase recognizes that buyers have more bargaining power than sellers at this time and wants to equip New Yorkers with the tools needed to attain the American dream of homeownership.
The U.S. homeownership rate among minorities increased to 49.1 percent from 42.3 percent between 1994 and 2004, according to the U.S. Census Bureau. Historically low interest rates and mortgage innovations all have played a part in this rise. Today, homeowners increasingly are looking for financial security and smarter ways to manage and sustain their real estate investments. The tour's seminars will address both how to buy a home and how to sustain homeownership.
"Understanding lending options, foreclosure prevention tips and how to navigate in today's market are cornerstones which empower consumers to make informed decisions when establishing their legacy," said Veronica Seale, Chase vice president. "Homeownership is a financial asset that could well be a family's most significant long term source of wealth."
Similar to when the tour was in Atlanta, Houston and Chicago earlier this summer, workshop topics include:
National Tour sponsors include Dell and Freddie Mac.
Chase originates $170 billion in residential mortgages and home equity annually, and services a portfolio of more than $600 billion. The home lending division serves borrowers nationwide through 2,000 local loan officers in 270 mortgage offices and more than 3,000 bank branches, as well as approximately 500 representatives in call centers. In addition, the Chase Business-to-Business channel serves mortgage brokers and bankers in all 50 states through 15 processing centers and more than 800 account executives. Parent company JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.5 trillion and operations in more than 50 countries. Information about Chase's mortgage products and services is available at www.chase.com.
ABOUT FREDDIE MAC
Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage pass through securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters. For additional information about Freddie Mac, visit: www.FreddieMac.com.
ABOUT LYNNETTE KHALFANI
Lynnette Khalfani, "The Money Coach," is a personal finance expert and the author of The Money Coach's Guide to Your First Million (McGraw Hill; Sept 2006), Investing Success: How To Conquer 30 Costly Mistakes & Multiply Your Wealth! and the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom (Advantage World Press).
As an award-winning financial news journalist, Lynnette worked for nearly a decade as a Dow Jones Newswires reporter and a Wall Street Journal reporter for CNBC. At CNBC, Lynnette filed weekly television segments on personal finances, investing and small business, and conducted online chat sessions on CNBC.com. Lynnette is also a contributing writer for Essence Magazine and Black Enterprise. For more information about Lynnette Khalfani, visit www.themoneycoach.net.
For more information about the Tour go to www.chase.com/legacy or call 1-800-541-0368.