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Homes for all – Foundation boosts American dream

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The Fannie Mae Foundation has distributed free home-buying guides to more than 10 million consumers in an effort to increase levels of homeownership among Americans.

The effort, called Opening Doors, was launched in 1993 using television materials, print materials and direct mail. A special emphasis was placed on reaching out to African American and Latino communities, whose homeowner rates are considerably lower than the general population.

“We found through research that one of the principle barriers to homeownership is not having enough information on the home-buying process,” said Stacey H. Davis, president and CEO of the Fannie Mae Foundation.

The Fannie Mae guides cover topics like credit, mortgages and budgeting.

A 1997 survey found that 75 percent more African Americans felt knowledgeable about the home buying process than before the campaign was initiated in 1993.

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