FHLB Dallas Grants $75,000 to MAUC for Heirs’ Property Program
The Federal Home Loan Bank of Dallas (FHLB Dallas) has allocated $75,000 in grants to the Mexican American Unity Council (MAUC) via Broadway Bank, facilitating the Heirs’ Property Program. These funds aim to empower homeowners, particularly in the Latino community, to resolve property-related challenges and preserve their family’s legacy.
Fernando Godinez, president and CEO of MAUC, expressed gratitude for the grant, emphasizing its significance in safeguarding the wealth accumulated by Latino homeowners through their hard work.
The MAUC Homestead Preservation Center will utilize the funds to aid homeowners in retaining ownership of their homes. Through initiatives such as assisting homeowners in clearing property titles and reducing property taxes, the center aims to support long-time residents in thriving within their communities.
This grant is part of a larger initiative by FHLB Dallas, totaling $905,200, to address heirs’ property issues across various organizations. In Texas alone, $515,200 was distributed among 12 organizations.
Heirs’ property, inherited without proper documentation, poses significant challenges to obtaining clear title over time, complicating property transfers and loan acquisitions.
Jacob P. Cavazos, senior vice president and community reinvestment manager at Broadway Bank, emphasized the importance of these funds in alleviating property-related burdens faced by homeowners.
In 2023, FHLB Dallas introduced the Heirs’ Property Program, offering grants of up to $75,000 to organizations dedicated to addressing property-related challenges. Recipients included affordable housing associations, community development groups, legal aid organizations, and universities.
Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas, highlighted the program’s impact on minority communities and low-income populations, aiming to break the cycle of generational poverty.
For further details on the Heirs’ Property Program, visit fhlb.com/heirs
