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| Articles about Homeownership |
| Bush Responds to Housing Crisis with “National Homeownership Month” | | 2008-06-07 12:07:00 | | Home foreclosures are at a record high. And nothing bulldozes the American Dream faster than an eviction notice.
Have no fear: the Bush White House has declared June “National Homeownership Month”! From the official press release (i.e., not a joke):
For many Americans, owning a home represents freedom, independence, and the American dream. During National Homeownership [...]
... | | By: blixity | | |
| | Subprime fallout may hurt homeownership | | 2007-03-11 12:20:33 | | With the increasing defaults of Subprime Adjustable Rate Mortgages, (Subprime is a loan that does not meet the quality of what is called A paper, in general usually a middle credit score of 620 or more) many lenders are leaving that side of the business and it seems like the federal regulations for these types of loans are going to tighten. For example, New Century a long time subprime lenders has stopped taking new loan applications because of the large increase in defaults. According to Reuters, they may soon seek bankruptcy protection. In addition, more than 20 subprime lenders have quit lending or gone bankrupt in the past year or so. Even large lenders like Countrywide recently halted their no-money down programs. Now borrowers are required to have at leat 5% equity in their homes.So why do I mention all of this? Well, because of these recent occurrences, potential homebuyers that may have lower credit, but have every intention in making their mortgage payment may be pushed ... | | By: Financial Freedom Through Real Estate | | |
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