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If you’ve been following the events at the Republican National Convention, you’ve heard all the speeches about family, safety, immigration, jobs and the economy, as well as, party unity and broken pledges (or pledge). It has provided some good drama and plenty of fodder for the political pundits.
But, what about housing? We still have a problem in this country with affordable housing both for purchase and rent. The result is that many are still finding it difficult to afford a decent place to live while also living a decent lifestyle.
There is one group speaking to this issue at the convention. The J. Ronald Terwilliger Foundation for Housing America’s Families sponsored an event, which was co-sponsored by MBA and other industry groups, to draw attention to the rental housing affordability crisis.
Based on attendee feedback the event was well attended and a big success (Housing). Hopefully, this will bring more candidate and political party attention to housing issues and concerns by the candidates.
An opportunity exists for lenders to assist in this arena by offering affordable financing on investment properties to be used as rentals. With lenders now concentering on refi’s, some may overlook this chance to expand their lending potential. It’s worth a look.
Like primary home purchases and refinances, these loans must be carefully underwritten. However, these do not have all the regulatory compliance as is required on primary home financings. There are risks, but there are also rewards.
So let’s thank the Terwilliger Foundation, the RNC and the MBA for getting some affordable housing issues on the table. Hopefully, they’ll do the same at the DNC. After all, this should be a bi-partisan issue.
