Wednesday, September 9, 2009

NHC Taskforce Outlines "Ten Key Principles" for Repairing the U.S. Mortgage Market and Addressing Soaring Home Foreclosures

NHC released a new policy statement today on the "Ten Key Principles" for repairing the U.S. mortgage market and addressing soaring home foreclosures. The statement is the result of an NHC commissioned industry-wide taskforce that focused on assessing the dire condition of housing finance, as well as its potential.

In particular, the principles urge the federal government to look to the policies that will help to maintain its critical role in the housing finance system. Recommendations also include developing policies that protect consumers, require disclosure of lending practices, and offer effective homeownership counseling before and after a home is purchased.

And, although homeownership is often called the 'American dream," the principles emphasize that federal housing policy must begin to recognize that families across the nation call rental housing home. Utlimately, it is vital that a strong infrastructure exist in order to support rental housing overall, but specifically rental housing for low- to moderate-income families."

Read the NHC "Ten Key Principles" Media Statement.

Additionally, make sure to check out the video below of NHC President and CEO Conrad Egan highlighting these principles.

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