2. Second, the deductibility of mortgage interest and property tax payments serves to lower the after-tax cost of homeownership, also contributing to owners' ability to increase savings or consumption. Many low-income owners may not benefit from these provisions, however, because the standard deduction often exceeds interest and property tax
3. Third, homeownership allows a borrower to tap into secured lending against his or her home, which, all else equal, is often at a lower rate of interest than unsecured lending. All these financial benefits are possible but in no way assured. As discussed in the following text, the proper way to view homeownership is as an investment that carries with it significant risks and uncertainties. For any number of reasons, homeowners can end up losing money on their homes or earn less of a return than if they had rented over some period." (Herbert and elsky, 2008, p. 9)
A second area…...
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Bibliography
Quigley, John M. (2005) Federal Credit and Insurance Programs: Housing. University of California, Berkeley.
Evolution of the U.S. Housing Finance System: A Historical Survey and Lessons For Emerging Mortgage Markets (2004) U.S. Department of Housing and Urban Development. 31 Mar 2006.
Affordable Housing Policies in the U.S. (2009) Department of Housing and Urban Development. 2 Mar 2009.
Herbert, Chris E. And Belsky, Eric S. (2008) The Homeownership Experience of Low-Income and Minority Households: A Review and Synthesis of the Literature. Cityscape: A Journal of Policy Development and Research • Volume 10, Number 2 • 2008 U.S. Department of Housing and Urban Development • Office of Policy Development and Research
Analysing the FHA RuleIssueSenator Polk of Califoregan has filed suit against the FHA rule. The rule requires local communities benefiting from FHA loans to rebuild the racial composition of their local police forces to reflect the communities racial composition. Senator Polk has also filed suit against Congress decision to appropriate additional funds to the affected police forces to help them rebuild amidst huge resistance from opposing communities. The senator claims that both the FHA rule and the appropriation are beyond the scope of Congress and the executive branchs authority. Victor Alvarez, a former lieutenant who lost his job to an African-American as a result of the rule, has also joined the suit. The issue is whether Senator Polk and Alvarez meet the legal criteria for standing under Article III.The RuleIn Lujan vs. Defenders of Wildlife, 504 US. 555 (1992)[footnoteRef:1], the Supreme Court developed a three-prong criteria for establishing standing under…...
" (Chennameni, 2006) it is reported that this "incessant interaction and conversion in turn results in joint creation of knowledge by individuals and organizations." (Chennameni, 2006) Organizations are reported to play a key role in activating the "explicit and tacit dimensions of knowledge and in providing a forum for the knowledge spiral through four modes of knowledge creation" (Chennameni, 2006) Those four modes are stated to include: (1) socialization; (2) externalization; (3) combination; and (4) internalization. (Chennameni, 2006)
Socialization speaks of the exchanging of "tacit knowledge among members through the social interactions and shared experiences." (Chennameni, 2006) Externalization refers to the translation of tacit knowledge into from explicit knowledge." (Chennameni, 2006) it is reported that each of the modes of conversion are both "interdependent and tangled." (Chennameni, 2006)
B. Diffusion of Innovation
ogers Diffusion of Innovations explains change via Social Networks. The Diffusion of innovations theory explains the process of adoptions of innovation…...
The open communication and team objectives will make the COA team realize high energy, renewed commitment to the change process, and openness. In this stage, the FHA team has adopted the change, and requires leadership to sustain the drive. At this stage, an effective leadership style to maintain the drive to change is the management by objectives (Bridges & Bridges, 2009). This leadership style drives people to connect to the objectives of the change process and to the change plan. I would also motivate the team by recognizing the effort in the change process to avoid complacency.
Key Elements in the Leadership Organizational Change Process
Smart Power
The leadership model created in the change process was accentuated with smart-power or the model of visionary leadership. In this model, organizational and project team communication was achieved by adopting the principals of strategic control, balance of constraint and creativity, transfer of information, and transactional…...
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References
Bridges, W. & Bridges, S. (2009). Managing Transitions: Making the Most of Change. 3rd ed., Da Capo Lifelong Books.
Kondalkar, V.G. (2010). Organization Effectiveness and Change Management. PHI Learning.
Martini, P.H. (2008). Toward an Integrated Model of Visionary Leadership: A Multilevel Study. Regent University, Proquest, AAT 3340923.
Nieuwenhuizen, C. & Rossouw, D. (2008). Business Management: A Contemporary Approach. Cape Town, South Africa; Juta & Co.
After all, it was only a few generations ago that the FHA was discriminating against black applicants. Schools are still highly segregated. Race in many ways determines access to social and cultural capital, as well as financial capital. Throughout successive generations, it has been difficult if not downright impossible for the sons and daughters of non-white individuals to achieve social and economic parity with whites. The government could do things like infuse large amounts of money into predominantly poor, black communities. The residents of these communities need to have the opportunity to start their own businesses rather than work for a distant (white-owned) corporation that does not give back to the community. When black communities become more self-sustaining economically, it will be easier for them to improve infrastructure. The results will take time but would be totally feasible and no one would be affected adversely.
In light of the consequences…...
Home Mortgage Summary
The general subject of home mortgages can be daunting and complex to many people. However, there is no mystery or ambiguity to how they work. ather, they are pretty simple to render and perceive once the basics are known. This report shall cover basic mortgages, Federal Housing Administration (FHA) mortgages, adjustable rate mortgages (AM's) as well some general advice and items to consider. Mortgages should not be (and cannot be) entered casually in light of the financial implications and the recent history surrounding the industry. However, mortgages are the single largest way to create wealth for most Americans.
Home Mortgages
Even with the recent upheaval and problems relating to the mortgage industry, the basic structure and formulations that lead to mortgages being created has not changed. There has simply been a reform of who gets mortgages and what hoops they have to jump through to get said mortgages. Even after…...
Bank Rate. (2015, February 22). Adjustable-rate mortgage calculator. Retrieved February 22, 2015, from / adjustable-rate-mortgage-arm-calculator.aspxhttp://www.bankrate.com/calculators/mortgages
Consumer Finance. (2015, February 22). What is a debt-to-income ratio? Why is the
Jews Became hite
The Nordic races were viewed as the "real Americans" (53)
Even people from other European countries were not considered "white"
The height of anti-Semitism in the United States was in the 1920s and 1930s; doors were closed to new immigrants.
Anti-Semitism was related to other types of racism including discrimination against Southern Europeans, but also against Asians and any non-Nordic group.
After II, the attitudes of Americans changed so that Europeans were viewed as "model minorities"
Jews saw themselves as successful based on hard work and deferred gratification; and discounted the impact of white privilege
There was a sort of affirmative action program for Euromales, essentially "whitening" certain groups and creating a new model of institutionalized racism.
Euroraces
Immigrants poured into urban centers, which were more than 70% immigrant, leading urban America to "take on a distinctly immigrant flavor" (54)
Red scare is linked to anti-working class sentiments
"Scientific" racism was a popular ideology: eugenics allowed some of…...
According to Cleverley, Song and Cleverley (2011), there are four options for health care organizations for finding long-term debt financing. These four options are tax-exempt revenue bonds, Federal Housing Administration (FHA)-insured mortgages, public taxable bonds and conventional mortgage financing. Tax-exempt revenue bonds are issued against the facility's revenue and these are a low-cost source of debt financing. FHA-insured mortgages need to be approved, which is a tricky process. The approval allows the hospital to have mortgage insurance that lowers the cost of borrowing for hospitals. Public taxable bonds are a typical corporate bond issued with an investment bank as underwriter to the public markets. Conventional mortgage financing often involves placing the mortgage with an investor, but the drawback is these usually cannot cover entire projects.
A health care firm can increase its equity in three ways. The first is through retained earnings, the second from contributions and the third…...
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References:
Cleverley, W., Song, P. & Cleverley, J. (2011). Essentials of Health Care Finance. Sudbury, MA: Jones & Bartlett Publishing
Practicum Report: Assessment of Fair Housing Act using a Normative Policy Evaluation Method
Summary
I considered this as a great opportunity for exploring the role played by the public policy practitioner in the Public Housing sector. I got to assess the Fair Housing Act, via a normative policy evaluation methodology. Collection of data was achieved through observation and literature review of materials that included policy guidelines as well as records for the housing agency. It is clear from the assessment of programs and processes that XXXX Housing Agency obeys all the state and federal conditions on housing, such as the Fair Housing Act. Nonetheless, in order to improve the Act and make it even more accommodating for the smaller groups, the following recommendations are suggested; (1) HUD should supervise and impose grantee’s jurisdiction-wide favorable fair housing responsibilities via a reviewed Analysis of Impediments procedure. (2) The HUD needs fund beneficiaries to carry…...
" (Chow &
Ng, 13) Simply stated, the collapse of the Asian housing markets seems in
many ways to reflect that which is already now underway in the United
States. The failure of lending institutions to appropriately suit
borrowers with the appropriate financing terms has ultimately translated
into a simultaneous rise in costs within the lagging housing market and the
general dearth of resources available to accommodate the demands of
borrowers with some categorical entitlement to public assistance in
achieving personal home ownership.
This underscores the consequences of the current housing market to
the available terms and conditions relating to residential property
financing. The characteristics of readily available programs are impacted
today by no small degree of tumult in terms of value for property, value
of the dollar and the categorical identification of differing classes of
buyer. Even more then, today, is it important for the borrower to fully
understanding the opportunities and pitfalls before him when an attractive
loan or property financing option does become…...
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Works Cited
Brown, C. (2005). Residential income property financing. Buzzle. Online
The National Housing Act indirectly promoted the idea of lenders offering much longer-term mortgages with the currently accepted concept of monthly payments with the dual interest and principal payment scale. Amortized real estate mortgages opened the door for an average person to purchase and own a single family home.
As a result of the National Housing Act, the United States government inadvertently committed itself along with private lenders to insure long-term mortgages that could be held for as long as twenty or more years at an interest rate that was affordable. Although the process at first was bogged down by paperwork and bureaucracy it eventually caught on.
Part of the reason the process took hold was because in addition to guaranteeing the loans, the National Housing Act through the formation of the Federal Housing Administration also investigated properties and neighborhoods which added an extra measure of security and guaranteed real-estate properties…...
Assemble Historical Data
Over the last several years, the role of the federal government in the housing market has been increasingly brought to the forefront. This is because of the implosion in prices and support that was provided by ashington to address these issues. However, since the 1930s the U.S. government has been directly providing support to the housing market (through the FHA). This was in response to the impact of private mortgages on the economy during the Great Depression.
As time went by, this role was expanded with ashington providing direct and indirect assistance through: Fannie Mae, Freddie Mac along with the Veterans Administration (VA). The combination of these factors allowed the federal government to help with the financing and purchasing of homes. As a result, the numbers of Americans who own properties have increased exponentially since the 1940's. Evidence of this can be seen in the below chart (which is…...
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Works Cited
Carliner, Michael. "Development of Federal Homeownership Policies." Fannie Mae Foundation vol. 9 no. 2 (1998): 299 -- 322.
Chambers, Matthew. "Did Housing Policies Cause the Post War Boom." Townson University (2011): 1 -- 28.
Collins, Michael. "Towards a Strategic Federal Policy." Federal Homeownership Policy (2003): 1- 20.
Collins, Michael. "Perusing the American Dream." Millennial Housing Commission (2002): 3 -- 51.
ewarding Work: How to estore Participating and Self-Support to Free Enterprise (Harvard University Press, 197), economist Edmund Phelps offers this plan to help the working poor: apply tax credits for "qualified employers" or hire disadvantaged people for "eligible jobs." Evaluate this plan in terms of market incentives, one of the ten principles of economics, to work and current welfare programs. Is the Phelps' plan an improvement over current government policies? Discuss.
Lowering a company's tax bill will generally always be effective in causing them to invest more money in expanding which usually means more hiring. However, it is not a panacea, as the recent economic incentives have proven. As of late, firms have received a number of tax cuts but there has also been the passing of the Dodd Frank financial reform bill as well as ObamaCare, both of which (ObamaCare in particular) is clearly making employers cool to hire…...
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References
Bernard, T. (2012, February 27). New York Times. FHA Raises To Fees On Mortgages.
4. I did not obtain my current mortgage under any materially false pretenses.
As part of the Hope for Homeowners program, I would be able to attain a new affordable mortgage based on a current appraisal value. I would retain 10% equity in the property, and would be sharing the equity and future appreciation with the Federal government, which would prohibit me from taking out any additional loans against the property except for direct repairs and/or maintenance. There are also up front insurance premiums for this type of loan, which I am aware of.
If you would please consider one of these two options, I believe we can come up with a mutually satisfying solution to help avoid foreclosure on my home. I am writing this hardship letter to plead with your company to review my loan information, take into account my current financial situation, my excellent payment history prior to the…...
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REFERENCES
Mortgage Bankers Association. Fannie Mae Posts Conventional Mortgage Servicing Modifications (06-18). Related Documents, 2008 Mortgage Bankers Association. Website with .pdf file:
The bottom line for many - in terms of moral obligation - is the fact that Americans rely on their government to: a) protect them from attacks from terrorists (which the government did not to prior to the attacks on 9/11); b) spend their tax money responsibly without corruption (which neither the Congress or the hite House has done in recent years); c) only wage war when the nation is under direct threat of hostility (which it didn't vis-a-vis the Iraq ar); d) be honest with citizens (which the government has not been - to wit, the executive branch has on numerous occasions over the past few years censored empirical science in the name of political ideology); and e) protect the Constitution (which the executive branch has not done in all cases, i.e., recent memos released by the Justice Department show the executive branch believed it could assume broad and…...
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Works Cited
Merle, Renae. (2009). One in Five Homeowners 'Underwater'. The Washington Post.
1. The evolution of soap operas: From radio to television to online streaming platforms 2. The impact of soap operas on popular culture and societal norms 3. The portrayal of gender roles and stereotypes in soap operas 4. The representation of race and diversity in soap operas 5. The appeal of soap operas to different demographics and generations 6. The role of fashion and consumerism in soap operas 7. The influence of soap operas on storytelling techniques in popular media 8. The enduring popularity of soap operas in the age of reality TV and streaming services 9. The storytelling techniques and conventions unique to soap operas 10. The role....
1. Character development: King is known for creating characters that are complex, multidimensional, and relatable. He spends a significant amount of time building up his characters, providing detailed descriptions, and delving into their inner thoughts and emotions.
2. Descriptive language: King has a knack for vividly describing scenes, settings, and events in a way that transports the reader into the world he has created. His use of sensory details and rich imagery helps to create a sense of atmosphere and tension.
3. Pacing and suspense: King is a master of building tension and suspense throughout his stories. He expertly crafts plot twists,....
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