Help Americans Inc.’s Home Buyer’s Down Payment Assistance is not just for First Time Home Buyers!!!
The American Dream known by all Americans across our country is “HOME OWNERSHIP”. In 2008 our country went through one of the most devastating financial crisis’s in its 240 years of existence.
The Founder of Help Americans Inc. Richard Crowder believes strongly in the “AMERICAN DREAM” and carefully created the Home Buyer’s Down Payment Assistance Program with an strong emphasis on a Lender approved Home Buyers Course for a fiscally responsible Home Buyer. The Program provides assistance with Government and Private Programs along with down payment assistance when applicable.
Barrier to Home Ownership
The average price of a home: $250,000
Down Payment is 3.5% totaling: $8,750
Closing Cost approximately 3% totaling: $7,500
Total Out Of Pocket Expense without assistance: $16,250
Help Americans Inc. breaks down this barrier by utilizing:
- Government & Private Programs and down payment assistance up to 2% of the purchase price (up to $7,000) for home buyers that complete a Lender approved Home Buyer Course.
- Seller or Lender Paid Closing Cost on behalf of the Buyer including a possible credit for the upfront expense of the Appraisal and Home Inspection.
The combination of the Down Payment Assistance provided to the Buyer along with the Seller or Lender Paid Closing Cost makes it possible for the Buyer completing the home buyer’s course to become a home owner with as low as $0 out of pocket!!!
Click on the Down Payment Assistance Button to register for help and see how easy it is!
Help Americans Inc. Funds the Down Payment Assistance Program through Donations by Corporate and Private Donors and through our Charity Poker and Golf Events. We ask all Americans to please join us with our Mission to Make America a Better Place!!!
We have provided some statistics of the 2008 Housing crisis for Americans who would like to learn more.
The housing crisis in 2008 was caused by the banks. They came up with programs to maximize profits at the expense of our Americans. Home Buyers were offered programs to get into homes they could not afford. These programs were not explained to the buyers and when their mortgage payments escalated from these bad mortgages they could no longer afford to pay the mortgage. Help Americans Inc. is committed to help these families become home owners again.
- 4 million Americans lost their homes
- NEW YORK (CNNMoney.com) — U.S. foreclosure filings spiked by more than 81% in 2008, a record, according to a report released Thursday, and they’re up 225% compared with 2006.
- A total of 861,664 families lost their homes to foreclosure last year, according to RealtyTrac, which released its year-end report Thursday. There were more than 3.1 million foreclosure filings issued during 2008, which means that one of every 54 households received a notice last year.
- “Clearly the foreclosure prevention programs implemented to date have not had any real success in slowing down this foreclosure tsunami,” said James Saccacio, CEO of RealtyTrac in a statement. And despite those efforts on the part of both the government and the banking industry to quell the housing crisis, defaults continued to climb as 2008 came to an end. Foreclosure filings were up 17% in December over November, and rose 41% compared with December of 2007.”The big jump in December foreclosure activity was somewhat surprising given the moratoria enacted by both Freddie Mac and Fannie Mae, along with programs from some of the major lenders and loan servicers aimed at delaying foreclosure actions against distressed homeowners,” said Saccacio.
- Both of the government-sponsored mortgage giants suspended foreclosures starting November 26, 2008 through January 31, 2009. The devastating numbers are unlikely to improve soon.
- “I don’t see how we can avoid three million foreclosures again in 2009,” said Rick Sharga, a RealtyTrac spokesman. His company now has nearly a million sales listings for bank-owned homes. A Huge foreclosure inventory!!!
- Sharga thinks that as many as 70% of the bank-owned homes listed on RealtyTrac’s site have not yet been posted on multiple listings services (MLS), the industry databases of homes for sale. Those homes are less likely to be sold because most real estate agents won’t know they’re available. “Either banks are overwhelmed and can’t get the houses on the MLS quickly, or they’re deliberately slowing down so they don’t have to take markdowns to actual home values on their books,” Sharga said. Either way, it has the effect of underestimating the foreclosure inventory problem. Banks also seem to be slowing the foreclosure process, according to Sharga. They are not sending out foreclosure filings as quickly when homeowners fall behind on payments.Part of that is because some new state regulations require banks to notify delinquent borrowers of their intent to file notices of default, and to offer help to borrowers who want to get their finances back on track. Banks simply lack the manpower to track down so many delinquent homeowners with the required notifications. This creates a delay between the time that borrowers first miss payments and when they go into foreclosure. After one such rule took effect in California this past summer, notices of default fell by half, to 21,665 from 44,278. But they jumped back to more than 44,000 again in December, probably because banks caught up on many of the postponed notices.”The recent California law, much like its predecessors in Massachusetts and Maryland, appears to have done little more than delay the inevitable foreclosure proceedings for thousands of homeowners,” said SaccacioFalling home pricesForeclosures are closely tied to home prices – they tend to rise as prices fall. And nationally, home prices have fallen more than 21% from their peak, according to the S&P/Case-Shiller Home Price index. In many areas, the decline has been much worse.
- In Los Angeles, San Francisco and Miami prices are down 30% or more. They’ve fallen more than 40% in Phoenix and nearly that much in Las Vegas.
- Declining prices put many homeowners “underwater” on their mortgages, owing more than their homes are worth, which makes them more likely to default.
- And adding a flood of bank-owned homes to already slow markets further outstrips demand and dampens prices, creating a spiral of lower prices and higher foreclosures.
- As a result, more homeowners who fall behind on their mortgage payments end up losing their homes, according to Jay Brinkman, the chief economist for the Mortgage Bankers Association
- In California and Florida 80% of the homeowners who miss a payment end up in foreclosure, according to the MBA. That’s a much, higher percentage than in the past.
- “The number of mortgages 30 days past due are still below what they were during the 2001 recession,” said Brinkman. But the proportion of those loans that went into foreclosure was much lower, he added – about 10%.
- “Delinquency itself has become a much clearer predictor of foreclosure,” said Sharga.
- If home prices keep plunging, the foreclosure scourge will likely continue. And S&P’s chief economist, David Wyss, expects home prices to continue to decline, bottoming in early 2010 roughly 33% below their 2006 peak.
- Worst hit areas The three states hit hardest by foreclosure in 2008 were Nevada, Florida and Arizona. In Nevada, 7% of homes received a foreclosure filing – such as a notice of default, auction sale notice or foreclosure sale – during the year, up 126% from 2007.
- Florida filings soared 133%, hitting more than 4.5% of all households
- Arizona filings jumped 203%, also to about 4.5%.
- California had the highest total number of filings for any state, 523,624, more than double 2007 levels.
- Stockton, Calif. had the highest rate of foreclosures of any metropolitan area, at 9.5%.
- Las Vegas was second with 8.9
- Riverside/San Bernardino Calif. was third with 8%. Of the top 20 cities for foreclosures, most are in the Sun Belt, with the exception of Detroit at number 10, Memphis, which ranked 18th and Denver which was 19th.
- 70% of American 40 years and older were affected by the 2008 housing crisis
- Suicides Related to Foreclosures
- Suicides in America continue to creep upward. Between 2003 and 2013, the rate of deaths caused by suicide climbed from just shy of 11 per 100,000 residents to 13.* Suicide rates rose for every age cohort in the U.S. over that time span. In 2013, more people between the ages of 25 and 74 died by their own hands than died in automobile crashes.In 2010, just as the U.S. was beginning to climb out of the global financial crisis, suicide was the second-leading cause of death for adults aged 25 to 34 in the U.S., and the fourth-leading cause of death for adults aged 35 to 54. With the Great Recession behind us, public health officials are now trying to measure the toll of the housing crisis in terms of lost life and psychological distress. A new study released this month in the American Journal of Public Health offers one answer to this complex question. The report finds that suicides spurred by severe housing stress—evictions and foreclosures—doubled between 2005 and 2010.The study is the work of researchers from the Division of Violence Prevention at the U.S. Centers for Disease Control and Prevention. Led by Katherine A. Fowler, five researchers analyzed suicide findings from 16 states that participate in the National Violent Death Reporting System. The NVDRS is an epidemiological surveillance system that abstracts data from a variety of sources, including death certificates, law-enforcement agencies, coroners, medical examiners, forensic laboratories, and other vital-statistics providers.”This study was the first to our knowledge to systematically examine suicides linked with eviction and foreclosure,” the report reads.