ADVISORY/Oakland Inner City Family Gains Homeownership Through Pioneering Community/Corporate Partnership.Business/News Editors and Real Estate Writers ADVISORY...Thursday (Nov. 2) --(BUSINESS WIRE) Unity Council, PMI See Private Mortgage Insurance. Mortgage Insurance Co, rehabbing Fruitvale District homes for purchase by low-income families Celebration party: Thurs. Nov. 2, 1 pm at home; food, music, dignitaries What: An Oakland inner city family is buying their first home as part of a pioneering partnership between the Unity Council, a non-profit Oakland community development corporation, and the San Francisco-based PMI Mortgage Insurance Co. The keys will be turned over to the Jasso family at a party and event Thursday. PMI gave the Unity Council $200,000 to create a revolving loan fund A Revolving Loan Fund (RLF) is a source of money from which loans are made for small business development projects. A loan is made to one person or business at a time and, as repayments are made, funds become available for new loans to other businesses. for the purchase and rehabilitation of homes in underserved communities. The Jasso family participated in the Unity Council's HomeOwnership Center, which prepares low-income families to buy homes and provides low interest loans. Where: At the remodeled home, 3209 Lorenzo St., off 35th Ave. in the Fruitvale section. When: 1:00 pm; Thurs., Nov. 2, 2000. Who: Arabella Martinez of the Unity Council, the Jasso family, PMI Group The PMI Group (NYSE: PMI) is a provider of credit enhancement products that promote homeownership and the provision of services essential to the building of strong communities. CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. W. Roger Haughton, Oakland City Council member Ignacio de la Fuente De La Fuente is a common surname in the Spanish language meaning of the Source
Visuals: Family members, party, music, food. Background: Established in 1964, the Unity Council is one of the oldest Latino non-profit community development corporations in the nation. It provides community advocacy, social service and economic development programs to enrich the quality of life of families and children in Alameda County. San Francisco-based PMI Mortgage Insurance Inc, a subsidiary of PMI Group, Inc. is one of the nation's largest private mortgage insurers. The program is part of $1 million in revolving loan funds established by PMI with local nonprofit partners in underserved ethnic communities nationwide, as part of its commitment to making homeownership a reality for working families. PMI works with such organizations as the National American Indian American Indian or Native American or Amerindian or indigenous American Any member of the various aboriginal peoples of the Western Hemisphere, with the exception of the Eskimos (Inuit) and the Aleuts. Housing Council, Habitat for Humanity Habitat for Humanity, nonprofit ecumenical Christian organization that enables low-income people to own affordable, livable housing. Headquartered in Americus, Ga., it was founded in 1976 by businessman Millard Fuller and his wife. and others as part of its activities that have made it the leader in the affordable housing market nationwide. |
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