Principal Loan Reduction and St Louis Mortgage Lending: Consumers Still Wanting To Buy Homes

Commercial Lending and Commercial Lenders 877-334-0210

St Louis Mortgage and Real Estate News –

St Louis Finance and Loan Reduction News: Huge Majority of Americans Still Want To Own Homes
St Louis Home Mortgage and Commercial Loans | Principal Reduction
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Mortgage

As surprising as it seems, a study of the housing market performed by Fannie Mae basically said that the housing crisis has in no way killed the homeownership thirst.

In fact, more than 51 percent of people recently polled said the bust did not change their

willingness to buy a home and an additional 27 percent said it actually made them more likely to do so.

The report, the first close analysis Fannie has taken of consumer attitudes about the rent-or-own decision, found that qualitative reasons such as having the ability to remodel or to send the kids to a better school has overtaken financial considerations as the primary motivators for homeownership.

Although trillions of dollars of equity were wiped out by the housing bust and millions of people will lose homes to foreclosure, nearly two-thirds of people surveyed believe purchasing a house is a safe investment.

More than half the public also thought buying a home was a good idea financially even if they plan to move out in less than three years.

Further, a huge majority, 86 percent of those surveyed, cite income-tax benefits especially the mortgage interest deduction is a big reason to buy.

Fannie found that no matter what their ethnicity or immigration status, Americans generally share similar positive attitudes toward homeownership, even though there are substantial differences among these groups in homeownership rates.

It seems that economic opportunities, not attitudes, account for much of the variation.

Only 44 percent of African Americans own homes, for instance, compared with 71 percent of whites, but that disparity starts to vanish among families in stronger financial circumstances.

African Americans' homeownership rises to 60 percent for those earning between $50,000 and $99,000, for example.

The survey findings have implications for Fannie's business model.

Non-Hispanic whites are projected to account for just 46 percent of the population by 2050.

Immigration will account for most of the population growth between now and then.

And since, as the report stated, "strong homeownership aspirations exist across races, ethnicities and immigrant groups," Fannie can count on future demand for owner-occupied homes remaining strong, as long as the economy cooperates.

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Articles and News Sponsored by Liberty Lending Consultants

When applying for any type of St Louis mortgage or refinancing, call Liberty Lending Consultants, the recognized St Louis home loan and refinancing experts, at (314) 336-9111 and ask for Steve Swan or Doug Stahlschmidt.

Business Owners: Call us at (314) 334-0210 and retain us for one of the best commercial loan modification and principal loan reduction programs available. A principal reduction or loan modification can help if you are underwater with negative equity. As commercial lending and loan modification program consultants, Floyd Tapia and his lending and legal team can focus on bringing you innovative private lending solutions to meet all types of financing needs. We have access to the largest portfolio of private lending institutions and investor backed funding sources available. Let us turn your challenges into closings (or from being underwater equity wise) and help you get a St Louis commercial lending, mortgage or financing loan.

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