is teaming up with the re-employment solutions company NextJob
to provide job search assistance to current and aspiring homeowners living in economically challenged areas.
The initiative, which is being coordinated under Freddie Mac’s three-year Duty to Serve plan, is aimed at homeowners with Freddie Mac Home Possible mortgages who are seeking new jobs after becoming unemployed or underemployed. The designated high-needs areas under the Duty to Serve regulation includes middle Appalachia, the lower Mississippi Delta, the Colonias low-income unincorporated housing-areas located along the Mexico border region, and other tracts located in persistent poverty counties.
“While some parts of the country are benefitting from low unemployment rates, many rural areas continue to see limited opportunities and flattening or declining wage growth,” said Mike Dawson, Vice President of Single-Family Affordable Lending Strategies and Initiatives at Freddie Mac. “Through our work with NextJob, and by partnering with leading local organizations on the front lines of this problem, we are capitalizing on the success of our past employment programs to help the next frontier of unmet workforce development needs. This partnership will provide meaningful opportunities to create and sustain homeownership for families across rural America.”