As global markets rejoice over the U. S. Government take over of Fannie Mae and Freddie Mac, let’s remember who the U. S. Government is. That would be US.
I am not sure this move will help the housing market nearly as much as it will help the investors, whose greed caused the mortgage crisis in the first place.
Tag Archives: housing slump
Don’t Bother Me with Negative Real Estate News
The media are getting a bad rap from Realtors about all the bad news they at transmitting about the housing and mortgage markets. No wonder so few people are interested in buying and selling homes. The current housing situation couldn’t possibly have anything to do with the normal functioning of the marketplace. Supply and demand: heresy.
While reading the current issue of Money Magazine, a ran across a blurb about Happy Real Estate News. Best described in a post on the housingwire.com blog, the site only presents positive (albeit sketchy and un-annotated) real estate stats from the handful (hundreds) of communities that have positive Real estate indicators.
There isn’t much “news” presented, just the initial news release which kicked off the site back in May, 2008.
Some in Congress Will Not Let the Smoke and Mirrors DPA Programs Die
For the sake of fairness, the entire email from Ameridream announcing the new Congressional bill is below
Last night, Congress introduced bipartisan legislation, H.R. 6694 that would reauthorize and reform charitable downpayment assistance. This bill would remedy a harmful provision in the new housing law which limits homeownership opportunities for low and middle-income Americans. The legislation, sponsored by U.S. Reps. Al Green (D-TX), Gary Miller (R-CA), Maxine Waters (D-CA), and Christopher Shays (R-CT) reauthorizes and reforms charitable downpayment assistance funded in part by sellers, which has helped over one million families and individuals become homeowners since 1999. The program was eliminated by legislation signed by President Bush on July 30, 2008.
The Green-Miller-Waters-Shays plan would re-authorize and reform non-profit downpayment assistance and secure it as an allowable source for FHA borrowers. The bill seeks to ensure that providers of the downpayment assistance operate in a transparent manner to guard against conflicts of interest. The bill also includes language to ensure that FHA maintains its financial stability by permanently authorizing the Secretary to assess higher premiums to higher risk borrowers.
It is important that you contact your elected officials in Congress and tell them that you support downpayment assistance and urge them to support H. R. 6694. To reach your elected officials, please call the US Capitol Switchboard at 202.224.3121.
To learn how you can support it, visit http://www.supporthomeownership.com.
AmeriDream continues to be your trusted advisor, bringing timely and accurate information when you need it most.
Thank you for your continued support and confidence.
Join The Growing List of DPA Supporters:
• Congressional Leaders
• US Conference of Mayors
• The National Association of Counties
• The National Home Builders Association
• Labor Council for Latin American Advancement
• The National Urban League
• Association for Homeowners Across America
• The 32,000 housing industry professionals, gift recipients and homebuyers who have either written or called Congress to support DPA
________________________________________
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