The private mortgage insurance industry launched PrivateMI en Espanol this week to provide information in Spanish about private mortgage insurance and how it compares with other home financing options.
"Although Hispanics are the fastest-growing minority group in America, they are still underrepresented in the ranks of homeowners," said Frank P. Filipps, chairman and chief executive of Radian Guaranty. PrivateMI en Espanol will include calculators to help consumers make informed decisions about home financing. One calculator allows prospective home buyers to determine how much sooner they can buy a home by using private mortgage insurance instead of saving for a larger down payment. Another shows how private mortgage insurance can be canceled. The site is at http://www.privatemi.com/enespanol/.