We House Americ A Case Study

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.”

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

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

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

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.

The foreclosure crisis has hit America exceptionally hard these past few years especially in California where the housing market is at its worst. California is also the worst because it is home to a lot of the most expensive properties. People are walking away from their homes because they cannot afford the mortgages or loans that they took out on their homes. The lenders are also to blame for this because they did not thoroughly look at them borrower’s credit and income to ensure that they would be able to pay it back. In some cases they would lend money even if the borrower had terrible credit. This has caused corporations like, Country Wide Home Loans, to be bought by other companies. A rather simple solution to this would be to

“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

Several years ago, the United States experienced an economic disaster like no one has ever seen before. This economic crisis left families devastated, broken and in disbelief as they were being escorted and locked out of their homes in the presenceof neighbors, families, and children. During the economic crisis, the current “boomerang buyers”were not able to meet their financial obligations, and as a result lost their homes to foreclosure, and many had to file bankruptcy.Purchasing a home with bad credit is difficult, but not impossible. As these foreclosure victims try to reconstruct their lives, it is imperative they reestablish good credit.

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.

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

Lopez, Linette. “Bank of America/Countrywide To Pay $335 Million For Predatory Lending Practices Against African American And Latino Borrowers.” 21 December 2011. Web.

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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.

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.