Black People : Black Home Ownership In Jeopardy

Discussion in 'Black People Open Forum' started by Flow Like That, Feb 26, 2004.

  1. Flow Like That

    Flow Like That Member MEMBER

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    Federal Reserve Chairman Alan Greenspan announced yesterday that he plans to introduce legislature to cut Fanny Mae mortgage loan programs. This is a disturbing warning sign to African Americans. African Americans are the largest reccipients of Fanny Mae home mortgage programs.

    I've stated before that home ownership is the first step to economic independence for African Americans. Black home ownership is the best source for self-sufficiency. And now the government will take steps to sever this precious resource. The more things change the more they stay the same.

    This issue should be watched closely as events begin to unfold. We should not regard this subject lightly.

    Our first response should be to contact elected officials. Secondly, mobilize our Black churches, businesses, intellectuals etc. to lobby against measures that would resend Fanny Mae programs.

    Let's hear some feedback.

    Peace!
     
  2. HODEE

    HODEE Well-Known Member MEMBER

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    WAKE UP CALL BLACK FOLKS!

    http://www.lesko.com/help/HousingHelp.htm

    Flow.. how are you. I hear your concerns. You know Fannie Mae, and Freddie haven't done us right for years anyway. It was a way for low income, first time home buyers to get a chance to purchase homes. But, they were charging us more than other institutions, for credit if not more. There shouldn't be a regulatory agency, that need gaurantee that if banks lend to us and help us the money will be backed. After you become a home owner.. you get leverage. Equity leverage, to borrow against that home, take trips, send your kids to school and live a pretty decent life.

    Fannie Mae supplied mortage insurance, and you paid the cost in your loan. They didn't lose, never have. :read:

    The above link will help some.

    This link may help others. Who have enough credit to borrow, from the bank.

    http://www.hud.gov/homes/homesforsale.cfm

    http://www.hud.gov/

    In most states HUD have $1 dollar homes. Call hud, get on the list. Ask about them. I got my sister one, and I had one in Missouri. Nice Homes. Need a little work.. buy what you want for $1 dollar.

    I see this as the wake up call... blacks better be hearing the horns. Cause the next four years will be getting very tight.

    What we have to do reclaim our run down nieghborhoods. Buy up those boarded up buildings, and get some of our back bone into the labor. For less than a new car. A home can be purchased in the Mid West. It isnt a bad place to live, I grew up there. I would move back too. You and I are on this West Coast. It is harder and more expensive here, but not impossible. Homes can be purchased anywhere for overdue taxes. Go down to the court house and read the postings. Realtors do this, and show you these homes.. they own first.

    I can hammer, and cut lumber. Swing a paint brush, and pour concrete. Others know plastering and plumbling. others know electrical wiring. Masonary. Then we can have some BROTHERHOOD, BUILDING HOODS and love flowing. You know we would turn it into some of the best food, and :party: fun ever had by black americans. I'm buying all the grape kool-aid they can drink. Even crack heads :yo: could pick up trash. All invested with a stake and gratitude unlike ever in America's History.
     
  3. Flow Like That

    Flow Like That Member MEMBER

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    Hello Hodee. You're thread was right on point. As African Americans we have to understand there can be prosperity in rebuilding many of our neighborhoods. Abandonment and running away to the burbs is not the answer. We must to learn how to utilize what we have to make things work for us. Everyday I see more and more Black neighborhoods subjected to gentrification; Harlem, South LA, Oakland and South Chicago all being transformed and bankrolled by non-Blacks. The Jews and Koreans know there's potential in these neighborhoods. As you highlighted there can be simple programs we can take advantage of to get access to housing and maintain the homes we have. We just have to correspond with the flow in our neighborhoods to make it happen.

    Until next time.....peace!
     
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