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Advisory Council Member Spotlight: Irma Yepez Klassen, Associate Director, Select Milwaukee | ||||
In this Advisory Council Member Spotlight we introduce Irma Yepez Klassen, associate director of Select Milwaukee. Select Milwaukee is a private, non-profit organization, founded in 1991 on the notion that families and Milwaukee neighborhoods would be well-served with the private, public, and non-profit sectors working together to support homeownership that people can afford and sustain. A: Select Milwaukee has certainly seen an increased interest in homebuying spurred by earlier historic low mortgage interest rates, and we’re helping more and more of our customers see the value of purchasing and rehabilitating foreclosures. Our customers enter the market as “educated consumers,” doing all their homework and having their financial “house” in order before undertaking the large financial investment of homeownership. Through our services, we strive to instill the value of being responsible homeowners and neighborhood stewards; and that if done right, homeownership is first and foremost a sound social investment because of the personal and financial security it offers. We do the work that we do because homeownership enriches lives of families and strengthens communities.
A: Select Milwaukee is an organization of excellence and it made sense for us to adopt and incorporate the National Industry Standards for Homeownership Education and Counseling. These standards differentiate the programs and services offered by Select Milwaukee, allowing it to stand out as an organization consumers can trust. Select Milwaukee presents information in a way that’s relevant to our customers, arming them with the resources and tools to meet their needs, whether that be improving their credit, building savings, navigating a home purchase, selecting a mortgage, tackling a fixer-upper, or home maintenance and foreclosure prevention. We have found there is a strong correlation between education and successful homeownership. Simply put, Select Milwaukee customers are more successful homeowners and are well-prepared for the responsibilities and challenges of homeownership; they purchase homes they can afford and maintain, securing quality mortgage financing. Since 1996, comparable Milwaukee County homebuyers have a foreclosure rate of 7% compared to just 2% for Select Milwaukee customers. A: Home Matters is spearheaded by the National NeighborWorks Association (NNA) and supported by the NNA Fund. The initiative emerged from a growing coalition of housing and community development organizations across the country, whose leaders believe that the importance of "Home," as a core building block for America, is not sufficiently recognized. A coast-to-coast coalition of leaders, community groups, non-profits, and the public at large are joined together by a critical mission: to show how "Home" is indispensable to each one of us, and to our communities' and country’s progress. As it grows, Home Matters will go beyond housing and illuminate the connections between stable housing and other important facets of American life – individual success, education, jobs, health, public safety, and a strong economy. | ||||
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This newsletter contains forward-looking statements which are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as "anticipates", "believes", "expects", "could", "plans", "estimates", "may", "should", "will," or their negatives or other variations on these terms.We caution that, by their nature, forward-looking statements involve risk or uncertainty, that actual results could differ materially from those expressed or implied in these forward-looking statements, and that actual events could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, the risk factors set forth in our periodic filings with the Securities and Exchange Commission, which are available on our website at www.fhlbc.com. We assume no obligation to update any forward-looking statements made in this newsletter. |