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Article: The gift of a lifetime. (homeownership program in Des Moines, Iowa)
- Article from:
- Mortgage Banking
- Article date:
- August 1, 1993
- Author:
CopyrightCOPYRIGHT 1993 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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An experiment in Des Moines has brought homeownership into the hands of low-income families. It took five players as varied as the Des Moines Public Housing Authority, Fannie Mae and the Federal Home Loan Bank, but the bottom line is it worked.
ONE OF THE MOST VISIBLE PUBlic policy problems facing this country today is the lack of homeownership opportunities for low- and very low-income families. Homeownership has ceased being an option for a growing segment of our population. And it is this very segment of society that, as a nation, we need most desperately to weave into the fabric of our society. The costs of failing to do so are very high indeed.
It's no ...