Freddie Mac helps renters buy leased homes
Article Abstract:
Freddie Mac's fifty million project is geared towards providing renters with homes through a loan program. The program is open to renters who cannot afford the downpayment but are capable of paying the monthly dues. The housing group purchases the house and leases it to renters. The lease period is from one to five years by which part of the monthly dues are accumulated for the downpayment. The sponsoring group holds a homeowner education program for the renter before the title of the property is given.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1996
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New report reflects Freddie Mac's progress in extending benefits of the housing-finance system to diverse markets
Article Abstract:
The Federal Home Loan Mortgage Corp.'s (Freddie Mac) report titled Financing Homes for a Diverse America examines the needs, choices and behaviors of American homeowners and renters. The report also publishes for the first time the extent of Freddie Mac's work in the diverse home-financing market. Key findings in the report include the reliability of the secondary market as a source of mortgage capital, the diversity of homebuying needs and the affordability in the rental-housing market.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1996
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A nation of homeowners
Article Abstract:
About 61 percent of the 61 million homeowners in the US hold mortgages. Majority of homeowners over 60 years old have already paid off their mortgages. Of the 34 million renters, the majority, who are under the age of 35, will acquire their own homes at some point. The homeownership rate of minority households are significantly lower than nonminority households. Married couples who do not have children are more likely to own homes and less likely to have a mortgage.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1996
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