Lessons for Loans and Life

Posted by at 2:28 pm

  Bay Equity Senior Loan Officer Laura Gonzalez draws on her professional and personal experience as a volunteer instructor for the Montebello Housing Development Corporation (MHDC), assisting low- to moderate-income families in Los Angeles County. One of MHDC’s most popular programs is “CalHome Second Mortgage Loan Program,” a state-funded deferred loan that helps fill the gap between home prices and a borrower’s buying power. Successful applicants must have FICO credit scores of at least 620, and take required homeowner education classes. Through years of experience, she’s learned all the roadblocks to affordable housing and her partnership with the program has helped 12 families realize the American dream. For Gonzalez, it’s a personal commitment. Aside from teaching them the ins and outs of home lending, she takes the time to interview each of the families to determine where they are financially to...
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