We House Americ A Case Study

MSTT met with Jake at the Valley Youth House to see how he was doing. Jake stated he is doing pretty good there because he has a lot more freedom there then he does at home. When asked what he means by that Jake explained his mother trys to control everything he does and at the Valley Youth house he as some freedom. MSTT and Jake discussed what his plans are once he returns home. Jake stated he does know at this time if he wants to go home. Jake explained Cody from CYS came to speak with him and explained to him he could be placed in a indenpedent living situation. Jake stated this is something he may be considering it because he's not sure if he wants to go home. MSTT will continue to meet with Jake and assess how he doing and develop a plan

I received your email regarding a CASA program regarding procedures for filing a complaint. Texas CASA is a membership organization and does not have authority over local programs. I can, however, provide you with the contact information for the program. The Executive Director is Patty Pisklak and her number isn 432-683-1114. Her email is pattyp@casawtx.org. Thank you for contacting Texas CASA.

“Not long ago, Countrywide Financial seemed to have everything going for it. Cofounded by Angelo Mozilo in 1969, by the early 2000s it had become the largest provider of home loans in the United States. At that time one in six U.S. loans originated with Countrywide. In 1993 its loan transactions reached the $1 trillion mark. Additionally, it was the primary provider of home loans to minorities in the United States and had lowered the barriers of homeownership for lower-income individuals. Countrywide also offered loan closing, capital market, insurance, and banking services to its

This power helped white families considerably in gaining ownership of houses, but severely crippled home ownership ability for African American families. The role of the HOLC was to provide low interest loans and refinance homes to prevent foreclosure; the role of the FHA was to guarantee mortgages from default. Both of these organizations worked to minimize the risk of home loans for banks, making it easier for families to obtain loans and mortgages to buy homes. This resulted in an explosion of home ownership from the 1930’s to the 1960’s, “In 1930, only 30 percent of Americans owned their homes; by 1960, more than 60 percent were home owners.”

On June 27, 1934, President Franklin Roosevelt signed the National Housing Act, with the goal to improve the housing standards and conditions, as well as provide a mutual mortgage insurance system. It came at a time when at least half of the nation’s home mortgages were in default, millions of people were losing their homes, and the construction industry was halted. This law in turn created the Federal Housing Administration (FHA). The FHA set standards for construction and underwriting, and it provided mortgage issuers, such as banks and private lenders, a federal guarantee of repayment. The purpose of this was to revive mortgage lending for house construction, home improvement projects, and home purchases. Not only did the FHA’s program

In 2008 the real estate market crashed because of the Graham-Leach-Bliley Act and Commodities Futures Modernization Act, which led to shady mortgage lending or “liar loans” (Hartman). The loans primarily approved for lower income and middle class borrowers with little income or no job income verification, which lead to many buyers purchasing homes they could not afford because everyone wants a piece of the American dream; homeownership. Because of “reckless lending to lower- and middle-income borrowers who could not afford to repay their loans many of the home buyers lost everything when the market collapsed” (Tankersley 3). Homeowners often continued to live in their houses for months or years without paying any

In 2001, the United States endured a short unexpected decline in the economy. With the terrorist attack at 9/11 and accounting scandals, a decline in the U.S economy was an obsession in the minds of the American people. However, in order to keep things at peace, the Federal Reserve determined that they will lower the Federal funds 11 times. The rate was then lowered from 6.5% to 1.75% in a matter of one year. This allowed bankers the power to award more borrowers with loans even if they had no job, income, or even assets. Even with no way of obtaining any income the dream of buying a home became a reality. It wasn’t long before everything became way cheaper.

Countrywide’s tactics often led borrowers to expensive and sometimes unfavorable loans that resulted in richer commissions for Countrywide’s sales forces, fees to company affiliates providing services on the loans, and a roaring stock price that made Countrywide executives among the highest paid in America. Countrywide’s entire operation, from its computer system to its incentive pay structure and financing arrangements, was intended to wring maximum profits out of the mortgage lending boom no matter what it cost borrowers (Morgenson, 2007).

Choosing the expansionary fiscal policy of increasing government spending to support low-income homes is a good topic. By providing more individuals with the opportunity to own a home, neighborhoods can grow and additional jobs can be offered to contractors in order to construct the homes. In addition, the contractors will hire more employees, laborers, electricians, carpenters, and plumbers, which will increase the job opportunities and provide more spending money for the economy. During a recession, the economy experiences a slowdown, which contributes to a drop in household incomes along with an increase in the unemployment rate (Sexton, 2013). Therefore, by stimulating the economy with an increase in government spending, the aggregate demand curve will demonstrate a positive shift, which will contribute to the G for government factor.

potential homeowners to purchase their own homes. Loans that had at one point been impossible

Home Owners’ Loan Corporation (HOLC) and Fair Housing Administration (FHA) are the roots to create housing discrimination toward minority especially for African American; they help the mortgage lender to make excuses to deny the loan to African American because they do not meet the requirements. During 1928, there was a huge crisis in stock market and caused many banks close and people faced foreclosure. In order to respond the crisis, president Roosevelt signed the Homeowners Refinancing Act to slow down the rate of housing foreclosures during 1930s (Hillier). This policy helped a hundred million people who was suffering from the depression and facing to lose their houses (Hillier). In addition, it also help many people refinanced their mortgage with low interest rate (Aalbers). The Federal Home Loan Bank Board (FHLBB) used HOLC to establish a program to “appraise real estate risk levels in 239 cities” (Hillier), which “produced detailed reports for each city along with a series of now infamous security maps that assigned residential areas a grade from one to four” (Hillier). Because of the neighborhood rating system, “the HOLC was also instrumental in implementing and institutionalizing redlining practices” (Aalbers) that do not

After my interview with Mrs. Melissa and after learning more about Enotah CASA and their service I was very impressed. Right now, everyone in their circuit has been assigned a CASA volunteer. Further, that means every child has at least one person fully dedicated to them and looking out for their best interest. CASA is the one place of stability in a child’s life, even if everything else is chaotic. I think this is a huge win, and truly exemplifies the agency’s dedication and effectiveness.

If I’m having lunch with a male co-worker, and his conversation causes me to laugh and smile, one may interpret that as flirting, or maybe even question the nature of our dine because I am married. Values and morals are important when it comes to ethics, the lower the principles and standards; the less likely one is to be considerate of how their actions may influence the outcome in a negative direction. Moreover, culture, in respect to ethical relativism, is another animal in and of itself. The culture of Countrywide was paved by a path of deceit, misappropriation, dishonesty, selfishness, pretentiousness and greed. It spread with upper category level hurricane force winds through an endless channel of investors, public officials, financial institutions, to harmless, innocent consumers. With that being said, we have a natural instinct to want to improve ourselves and our lives, especially when one has become a family. Everyone has the ultimate dream in some form or another, and homeownership is usually very high on the list. Mozilo’s parents had been too poor to own their own home, a fact that was definitely a force that drove him to entrepreneurship. He co-founded Countrywide in 1969 with the mission of making home ownership affordable for everyone. One would probably offer that there was joy and happiness for a series of excited buyers and builders when the

Brooklyn, NY – December 30, 2009 Foreclosures continue to rise drastically across the United States due to the recession, and have effected, and continue to affect thousands of families and individuals every day. One aspect we must take into consideration is that most people are not informed of what foreclosure means, or the process, even those who are homeowners. I believe that one step to preventing foreclosure is to educate first-time homebuyers. In addition, first-time homebuyer programs should not only assist potential buyers with financially preparing them to buy a home, but to keep the home once

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