Federal Housing Administration

After the catastrophic financial crisis and housing crash that occurred in 2008, many banks and lenders began to clamp down on the mortgage qualification process. Prior to the great recession, it was easy for borrowers to qualify for no down payment home loans and 100 percent financing. Today, the tide has drastically changed and loans with no down payment requirements are hard to come by. However, it is not impossible to find a lender willing to finance an entire loan without a down payment. Low and No Money Down Mortgages It is a common misconception among many potential borrowers that all banks offering conventional mortgages require 20 percent down. Although it is normal in the industry to put 20 percent down, it is not an absolute requirement.…

had been guilty of racial discriminatory practices, such as redlining and predatory financial lending.” Approaching reparations with a focus on housing discrimination has two advantages: it is recent and it is measureable. Housing discrimination is an issue that is still relevant to the current housing climate in America. Therefore it is possible to accurately calculate reparations based on housing and loan statistics. Housing discrimination also highlights the concern of the wealth gap…

down more of your debt. You don’t want to appear to be a credit risk to lenders right now. Build a history of timely repayment. CONSIDER RENTING If you’re still in the house that was foreclosed you might consider staying for a while. Learn about the Freddie Mac “REO Rental Initiative”. It gives qualified individuals a chance to pay rent on a month to month basis on the foreclosed property until the house is sold. This is a great option if you need time to find another place to live. The…

The nation 's inner cities and suburbs appear to be racially segregated because of the policies of Federal Housing Administration (FHA) and Home Owners Loan Corporation (HOLC) in the past. The HOLC was signed into law on June 13, 1933 by the request of President Roosevelt. HOLC devised an appraisal system that undervalued neighborhoods that were dense, mixed, or aging. In this appraisal system, the green A area, as the first grade, was a new, homogeneous, and suitable to live in; the blue B, as…

Life in the 1950s vs. Today In comparison with recent times, throughout the 1950s, there was equal unemployment, more births, less women employed, a movement from large cities to the suburbs, housing shortages, changes in health, changes in transit, and multiple corporations maximized. Although some of these can be deemed negative, it always shapes history and leads us to where we are today. The 1950s decade became known as the “Baby Boom”. There was a prediction of 5 million births by the end…

In addition to these acts there is also three executive orders: Executive Order 12898: Federal Actions to Address Environmental Justice in Minority Populations and Low-Income Populations Executive Order 13006: Locating Federal Facilities on Historic Properties in Our Nation 's Central Cities Executive Order 13007: Indian Sacred Sites In addition, there is the: Community Reinvestment Act (CRA) which congress pushed through in 1977 to reduce discriminatory credit practices against low-income…

Competitor 1: Hearthside Home Care Hearthside Home Care is a small business, founded in 1999, that is located on Spring Garden Street in Greensboro, NC. Their founder and president, Tina Glenn, is a health professional with over 27 years of experience throughout the medical spectrum, including long term facility care as well as community-based care. They are not as spread out as Caring Group, instead focusing on the immediate Greensboro area. Another difference between Hearthside and Caring…

Talk about the pros and cons of homeowner associations Before we talk about the pros and cons of a homeowner association, let us identity what a homeowner association is first. Homeowner Association or HOA is formed by a real estate developer for the purpose of marketing, managing, and selling of homes and lots in a residential subdivision. After selling a predetermined number of lots, the developer transfers the ownership of the association to the homeowners. If you bought a house in a…

Introduction In the next several years, there is going to be a huge increase in the population of older adults. Because of this, financial resources are going to be stretched thin, long term care facilities are going to be overly population, and older adult will outnumber caregivers by immense amounts. Aging in place is one major way to help prevent these things from happening to the older adult population. Over 95% of older adults agree and would rather stay in their homes then being moved…

Adams Funeral Homes has endured many challenges since its inception in 1874. Overall, both the family and business have been successful in overcoming these challenges thus far. This memo will address the recent improvements that have taken place, identify the current issues facing the business, and make recommendations that address these issues in an effective manner. There are many obstacles that the family and business have had to overcome. Some of the obstacles that the business has had to…