NEW YORK -- Fannie Mac will launch on Monday a sixweek campaign aimed at turning tenants in New York City into homeowners.

The agency will use newspaper, radio, and television ads to direct people to call two 800 numbers for guidance in English or Spanish on the homebuying process.

Callers will get a free guide that will help people determine whether they are ready to buy a hone. The guide will include a list of nonprofit agencies that can provide face-to-face guidance from trained counselors.

Homeownership is lowest in urban areas such as New York and Los Angeles. Fannie Mac is active nationally in efforts to build the incidence of homeownership, which has been stagnant in recent years.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.