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Philanthropic Entity Will Assist ARM Holders In Distress.(First American Homeownership Foundation)(Adjustable Rate Mortgage )
Santa Ana, CA -- Created to assist Americans who did not benefit from the "unprecedented boom in homeownership and home values in recent years," the First American Homeownership Foundation said this year it will focus on the needs of homeowners who are about to face payment increases in their adjustable-rate mortgage loans.
A detailed FAHF foreclosure prevention assistance plan will be unveiled in May.
Going forward, FAHF will help the real estate industry "address an anticipated foreclosure crisis stemming from adjustable-rate mortgage resets that will dramatically increase the monthly payments of the tens of thousands of lower-income homeowners in the next 18 months."
FAHF's stated goal is to help lower-income families for whom the ARM changes are expected to be particularly challenging for in 2007 and 2008. The current effort follows its 2006 campaign dedicated to assisting minority, new immigrant and lower-income families achieve homeownership.
FAHF invests in projects related to real estate financial literacy, homebuyer education, affordable housing creation and neighborhood revitalization through national grants to nonprofits and partnerships with various community-focused organizations including Los Angeles-based Operation HOPE Inc., Habitat for Humanity and Neighborhood ...
- First American Homeownership Foundation Marks First Year Anniversary.
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- Press release article from: PR Newswire April 7, 2008 700+ words
...PHILADELPHIA, April 7, 2008 /PRNewswire/ -- The American Homeownership Initiative, a newly formed nonprofit organization that...franchise has been obtained. For more information on American Homeownership Initiative visit http://www.americanhomeownership...
- Native American homeownership.(Brief Article)
- Magazine article from: Economic Opportunity Report October 25, 2004 700+ words
Native American Homeownership: Three federal agencies have joined in an effort to increase homeownership opportunities for Native Americans and Alaska Natives...
- Home Builders Support 'American Homeownership and Economic Opportunity Act'.
- Press release article from: PR Newswire February 15, 2000 700+ words
...Builders (NAHB) today endorsed legislation that would reduce regulatory barriers to homeownership. "The American Homeownership and Economic Opportunity Act would help reduce the cost of housing, thereby making it easier for first-time...
Source: HighBeam Research, Philanthropic Entity Will Assist ARM Holders In Distress.(First...