Program put forward to give Latinos debt help

Those who are having problems with their personal finances may run into the prospect of filing a foreclosure, though there are agencies out there working to find people some debt help.

A recent story from the Sacramento Bee noted that a number of groups have gotten together in order to help Latino residents avoid facing foreclosure. Those groups include state organizations, churches and the Mexican consul general in Sacramento, all of whom are working on a pilot program to help immigrants in the area.

Carlos Gonzalez Gutierrez, who is the Mexican consul general in the city, said that the idea of owning a home is especially important for Latino families because passing down property to future generations carries cultural importance.

“No one gains by people failing to pay their mortgages – not the bank, not the family,” Gonzalez Gutierrez told the paper. “But the ones who suffer most are the kids, the second generation.”

Though the program will initially be offered to Latinos, it will be expended to the general public in the next week.

California is one of the hardest-hit states when it comes to foreclosure, according to a recent report from RealtyTrac. For the third quarter, one in every 53 homes faced a foreclosure notice, which gives California the third-highest rate in the country.