A new Freddie Mac partnership with re–employment solutions company NextJob will provide job search assistance to current and aspiring homeowners living in designated underserved markets across the nation.
Part of Freddie Mac's Duty to Serve plan, this initiative provides individuals in high–needs areas (which includes middle Appalachia, the lower Mississippi Delta, Colonias and other persistent poverty areas) a meaningful opportunity to create and sustain long–term homeownership.
"We're thrilled to expand our partnership with Freddie Mac. They are on the forefront of exploring ways to help aspiring and existing homeowners who need a job to achieve or maintain homeownership," said John Courtney, CEO of NextJob.
NextJob will work with eligible homeowners who have Freddie Mac Home Possible® mortgages and may be struggling to make their mortgage payments because of a job loss, reduced hours or other employment challenges. To help them increase their re–employment prospects, homeowners will have access to one–on–one job coaching, "Job Talk" webinars and NextJob's proprietary online job search training program. The initiative also will provide job search assistance to aspiring homeowners with the hopes of increasing their income to a level that will help qualify them for Freddie Mac affordable loan offerings.
In these high–needs areas, NextJob will work closely with Freddie Mac Servicers and partners — CDC in Brownsville, Texas; D&E in Mississippi; FAHE in Kentucky's Appalachia region and HOPE Enterprise Corporation in Jackson, Mississippi — to identify and refer existing and prospective homeowners who could benefit from this program.
By working with NextJob and leading local organizations on the front lines of solving this problem, we are capitalizing on the widespread success of our past employment programs to help meet the next frontier of workforce development needs. This partnership will provide meaningful opportunities to create and sustain homeownership for families across America.