We Need to Bring Back the Mortgage Program to Help Low Income People

[Couch Potato]

Are you crazy?

I have an idea..............

How about we bring back the "good 'ol days" of 20% down and we verify people's incomes.

Too logical! How will anyone buy any votes with such an idea? :new_all_coholic:

 

[Hamlet]

I have an idea..............

How about we bring back the "good 'ol days" of 20% down and we verify people's incomes.

Ah, yes the "good ol days", but the problem with that is it isn't sufficient to feed the greed.

The present cost of living (primarily gas), who can now afford to put 20% down? Sure you have a job, but it costs $400 a week to get there....:Eyecrazy:

 

[Jerry Dell]

I think in the 1970's there was the FHA 235 program, it was disbanded because of fraud. The FmHA program made subsidized 100% loans but in the early 1990's it was limited by scarce funding. Now rural development (RD), it has high default rates.
Jerry Dell

 

[ghrousseau]

Importing 12 to 15 million poor and uneducated people from a foreign country(s) in the past 20 years and moving our economy to a service based economy while playing Team America Wold Police hasn't helped matters. The Romans did this and look where they ended up:sarcasim:new_all_coholic:

 

[EVAUSA]

Affordable Housing Programs exist all over the Country. Unfortunately, these programs are often abused and the people who need them the most dont know how to find them. The majority of the affordable housing units I've appraised have a $30K+ car in the DW and a flat screen on the wall. Increasing home ownership for the poor is not the answer, buckling down and living within our means IS. If people cant afford to buy a home, they shouldn't. I live within my means, I rent and save what I can to someday partake of the Big American Dream. It's hard right now, I can't afford to put away $$ every month, but I'm trying. Why should I pay more taxes to help others, who is going to help me? April takes care of April.

But if you must, donations are accepted at www.buyahouseforapril.com

 

[Karl]

Affordable Housing Programs exist all over the Country. Unfortunately, these programs are often abused and the people who need them the most dont know how to find them. The majority of the affordable housing units I've appraised have a $30K+ car in the DW and a flat screen on the wall. Increasing home ownership for the poor is not the answer, buckling down and living within our means IS. If people cant afford to buy a home, they shouldn't. I live within my means, I rent and save what I can to someday partake of the Big American Dream. It's hard right now, I can't afford to put away $$ every month, but I'm trying. Why should I pay more taxes to help others, who is going to help me? April takes care of April.

But if you must, donations are accepted at www.buyahouseforapril.com

Send Photo's!!!

 

[EVAUSA]

Send Photo's!!!

Photos of the affordable housing property I appraised or my sad face with a hand out?

Heck, for $2.85 a day, I'll send you both!

 

[John Hassler]

There are still low income programs out there. Besides FHA check with your state/county government. In CA there is CalHFA (CA Housing Finance Agency) and CHDAP (CA Homebuyers Downpayment Assistance Progran) which can be stacked on an FHA loan up to 102%.