- Brooke Dubuque
- Myrtle Beach, SC
- United States
This conversation is closed.
Better opportunities for lowe income families to become home owners.
I’m tired of seeing so many vacant homes sit so long they start to rot. Banks let so many homes that have been foreclosed just sit with no for sale sign in front of them for months even years. When they do that aren’t they losing out on potential money? Why not sell the home for the deficiency amount owed plus 5 grand or rent to own the house based on income. This way the banks still makes money and it gives the hard working low income families a chance to become home owners. Even families who have lost a house before could benefit from this. Let them have a chance at living the “ALL American Dream” of becoming a home owner. So many low income families struggle to live in a two bedroom apartment with no space to accommodate their five person family while a three or four bedroom homes sits vacant that could. I'm not talking about the ones who don't work and live off government assistants but the ones that work and or go to school. They don’t make enough to qualify for loans or their credit scores are a few numbers too low. Why can’t they walk in to bank with say 3 to 5 grand to put down on a home and their monthly payment be based on their income. Have a list of houses they can choose from, of course not a brand new 300,000 homes but foreclosed homes that are move in ready but may need a little work. I know a lot of families who would love to do this and once they were to get a home they would bust their butts to keep it. Even prior home owners who have lost a house before could benefit from this.