Myths Keep Some from Ownership

Daily Herald (Arlington Heights, IL), January 28, 2005 | Go to article overview

Myths Keep Some from Ownership


Byline: Sarah Eekhoff Zylstra Medill News Service

During the recent home-buying boom, some groups have missed out.

While 76.1 percent of white Americans own their own homes, only 48.4 percent of African Americans and 48.7 percent of Hispanics can claim home ownership, according to the U.S. Census Bureau.

Freddie Mac, the nation's largest mortgage finance company, contends only half of this difference can be explained by income, age of households, and length of residence. For many minorities, simple misconceptions have kept them out of the market for houses.

Freddie Mac, together with Chase Home Finance, Bethel New Life Inc., the National Association of Real Estate Brokers Inc. and the Dearborn Realtist Board Inc., have launched in Chicago an awareness and outreach campaign called "Homeownership: Let the TRUTH Move You." The focus of the campaign is to debunk common misconceptions that are preventing financially able families from buying a home.

"Home ownership is one of the hallmarks of the American dream," said U.S. Rep. Danny K. Davis (D-7th) in a press conference at the Chicago Cultural Center on Michigan Avenue. "But the reality of home ownership has escaped many people because of misinformation."

According to Freddie Mac research, almost half of African Americans and Latinos believe they need perfect credit to get a home loan, and that they need to put down 20 percent to secure it. More than half of African Americans and Latinos also believe that to secure a loan they must hold the same job for at least three years.

Chicago is one of 25 cities in the information campaign, which offers free one-hour educational sessions in English and Spanish. The sessions will provide information on all aspects of home ownership, including costs associated with home buying and credit history requirements. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Myths Keep Some from Ownership
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.