Former EC man making a difference
Montalvo's volunteer efforts assist homebuyers in making wise decisions

As newly installed president of the local chapter of the National Association of Hispanic Real Estate Professionals, former El Campoan Victor Montalvo is making strides for consumers wishing to purchase or keep their home from going into foreclosure. He will be installed as a national board member in March in Washington, D.C.

Victor Montalvo introduces several guest speakers at the recent real estate educational forum that informed consumers on issues surrounding today's market. He is the newly elected president of the National Association of Hispanic Real Estate Professionals and works in Austin. He is formlery of El Campo. Contributed Photo

Montalvo, a 1988 graduate of El Campo High School, is the son of Victor and Manuela Montalvo of El Campo. In 1995, he graduated from Southwest Texas State University with an international business degree with a minor in Spanish and history. He became a Realtor in September 2001 and now resides in Austin.

As a Realtor, Montalvo has dedicated his career by volunteering at many levels to educate consumers about current issues and trends. He has served on the Austin Board of Realtors as chair of the cultural diversity committee, Texas Association of Realtor as chair of housing initiatives, National Association of Realtors on cultural diversity, plus many more.

According to Montalvo, "The American dream is still alive."

This was evident as NAHREP and Freddie Mac organized a free real estate industry educational forum Friday, Jan. 11 at the Oswaldo A. B. Cantu Pan American Recreation Center in Austin. Montalvo as well as several policy makers and others with expertise in the real estate market spoke about housing and home ownership.

The forum was held "to help Texas consumers when they need us most - either before they purchase a home or before they ever get into financial trouble and risk foreclosure," Montalvo said.

Such events offer consumers advice on how to protect themselves from predatory practices and other issues. Some of those concerns focused on the increasing rate of home foreclosures.

With the assistance of Texas Reps. Jose Menendez and Mark Strama, Montalvo worked with the state legislature in declaring Jan. 11-18 as "Foreclosure Prevention and Awareness Week."

"Helping me, City Councilman Brewster McCracken read and presented the proclamation that was signed by Mayor Will Wynn and was created by City Councilman Mike Martinez declaring Foreclosure Prevention and Awareness week in the City of Austin," Montalvo said.

According to Montalvo, the foreclosure listing service reveals more than 3,600 homes in north Texas entered foreclosure this month, 30 percent more than January of 2007.

"Nationally, statewide and locally, forecasters are worried as many as 2 million Americans could lose their homes this year," he said.

But what can be done to turn around the housing market?

"First of all, let's not panic," he added. "Roughly 95 percent of mortgages are paid on time every month. The key is to find ways to focus on the troubled homeowners and make sure they can make their payments."

He noted that even for those who are financially distressed, losing their home is preventable.

His advice: "Homeowners need to know they should reverse this approach. If you think you might miss or be late with a payment, contact your lender. Usually you'll be able to work out a payment schedule that'll keep you in your home."

"As we think about the New Year it's good to know that both consumers and the housing industry have a role in reducing the number of foreclosures," Montalvo said.

"Whether it is through learning more about the housing crisis, taking action to call lenders when times are tough or promoting good business practices as NAHREP and Freddie Mac are doing, we all have a part to play. Together, we'll help more people keep their homes, reenergize the real estate market again and be a positive part of helping our national economy in 2008."