I see a world where neighborhood economic development begins from within communities and the solutions are centered on women and…
When we first envisioned our goal of better lives for Latinas and their families, we understood that tackling this issue, which involves several simultaneous moving parts, can become overwhelming for the women we serve. So, we know how critical it is for them to have our support to help them navigate the many cultural shifts and systemic barriers as they adjust to our American economy.
We couple our support with solid strategies to create, engage and develop building blocks to achieve our goal. Creating permanent solutions to property, more housing opportunities and knowledge platforms generate economic mobility, stabilise households and powerfully demonstrate the promise and economic influence of Latinas and their families. Engaging the Latina community to engage in public policy not only affects us positively now, but for generations to come. And developing digital infrastructures not only supports NEW, it also provides Latinas and their families with relevant content and education benefits.
NEW remains a guiding light and a bold voice that shines and speaks for and with Latinas, ensuring that our needs never go unnoticed by those whose decisions affect our well-being. Our work continues to be an empowering soul fore which supports Latinas and their families as they discover their own voices and pathways to making their American dreams a viable reality for themselves, their communities and our world.
Helping women become economically stable and move into the middle class is what New Economics for Women (NEW) has always…
Shifts can be scary. And shifts can create space for fantastic innovation. Looking back to the time of NEW’s…
After nearly 30 years of sacrifice and commitment to saving up money, the Larios family purchased their first home, with little knowledge of mortgages or the overall home-buying process. Having placed all their faith in the realtor to get them the best house and the best mortgage loan, they learned soon after moving in, that their new home needed many repairs and that they’d signed for a loan they couldn’t afford.
A few years later Mr. Larios refinanced to a lower interest rate. Unfortunately, it was for an adjustable rate mortgage. The fluctuating interest rates put a big strain on the family’s finances. Realizing that he couldn’t keep up with the payments, he tried to refinance into a fixed rate mortgage, but was only given the option of an interest-only mortgage payment. So Mr. Larios began working two jobs, plus overtime on each one.
“There was one Christmas when we were short on money and I remember having to look through the couch cushions and under furniture to find any extra pennies to make up the payment.”
Until one day he found himself at an event hosted by the Los Angeles City Attorney’s office. “At the event, I talked to several organizations. All of them just gave me their card and asked that I call them to set up an appointment. But when I went to the NEW booth, you immediately asked me questions and gave me information to get started right away. I returned home with hope, feeling that you genuinely wanted to help me. Before this event, I had no idea where to begin or who to talk to for help.” Soon after that day, Mr. Larios began working with NEW to prepare a loan modification package. He and his counselor met several more times to upload updated paperwork and to speak with his lender about his application.
“The interest my NEW counselor had in my case, the effort and patience she put into the long phone conversations with my bank, made me trust that I was in good hands. It was a lot of work.” Almost a year after working with NEW, Mr. Larios obtained a permanent loan modification with a fixed interest rate for the life of the loan. He lowered his mortgage payment from $1,890 to $1,414. “My house means everything to me; this is where we started. I raised my children here and now it is where our grandchildren are being raised. It was a comfort going to each visit at NEW, I put myself in [NEW’s] hands and we are so grateful that this program exists, restoring hope to us.”