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Grade A Presentation Example 2

Grade A Presentation Example 2 - Making the Homeownership...

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Unformatted text preview: Making the Homeownership Dream A Reality Dream Homeownership Homeownership An American Dream Owning a home is more Owning than just a real estate investment. It’s your safe place to raise a family and create special, create llife-long memories. ife-long In The News In Bloomburg reported that Minorities: Bloomburg Minorities Are Are denied loans more often denied Received more higher-cost mortgages Received mortgages Were more often denied or received high-cost Were refinancing for existing mortgages refinancing Craig Torres & Alison Vekshin – Bloomberg, September 12, 2007 Does Race Really Matter? Does According the US Census Bureau in 2002, According 67.9% of Americans are homeowners. When looked at by race: When White White Asian and Pacific Islander Hispanic (of any race) African American African Source: US Census Bureau www.census.gov Source: www.census.gov 71.8% 54.7% 48.2% 47.3% 47.3% From the Outside Looking In From It just does not pass the “Sniff Test” Though, there are variables like credit history, loan amount, loan to value ratios, and debt to income ratios, the wide gap wide is still difficult to explain. Looking Forward Looking What does it mean? What If current lending practices stay the same: An An increased market share of a dwindling population dwindling Missing Missing out on a growing, ignored market Quite frankly, missing out on $ MONEY $ MONEY Other Factors of the Problem Other Confusion & Lack of Information Confusion What information is needed to apply? Who can qualify? Who How much is needed in terms of a down How payment, closing costs, estimated monthly expenses, etc ? monthly What types of mortgages are available What and what are the differences? and Being Outdone Being Predatory Lenders exist and thrive by Aggressively advertising and making their presence known in the community Perpetuating ignorance and misinformation about the mortgage and lending process Being available outside of normal business hours There is NO reason why you can be outdone. You offer a better product at a lower Fixing the Problem Fixing Focus on Education Programs Reach out with accurate information on current, acceptable rates and the needed qualifications for homeownership Become Part of the Community Create relationships with organizations, neighborhood outreaches, and ministries Change the Perception Actively pursue recruiting diverse and community based staff including bilingual and minority agents Helping Families Reach Their Dream Helping It is totally within your power to Change the way your industry is perceived Revolutionize your industry to minimize predatory lending Create meaningful change in the lives of families in your community Increase profits for your company Just Do The Right Thing ...
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