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housing situation

Coming to America

Jan
10
Open letter to the president of the United States Mr. Barak Obama, Dear Mr. President. In 2008 my family and I joined the US Green Card Lottery in order to fulfill our dream to work and live in the country we have always admired for several reasons, the United States of America. In 2009 we received to, our surprise, the message that we had won the Green Card lottery for the whole family and we decided to give up a secure existence in Dubai, the Middle East to move to the US to become part of the American dream. I found an excellent job in only 2 weeks and only a few weeks after receiving the card we boarded an airplane to Houston, to start our new life in the US. I started to work for a company in Houston and we found a lease residence in Houston. We needed cars, household equipment, schools, a bank account, phones etc etc. We found out very soon no bank was interested in giving us credit because we had no “credit history”,although we had cash money in our bank account. So we were forced to buy all of our needs on cash basis. It took us “only” 6 months before our bank was willing to grand us a credit card with a limit of  $500. Our phone company was not willing to give us an account only when we put up a deposit of  $1.500.  The same was required for other facilities. In the mean while I started working hard in my new position in my company and we invested a lot of time, effort and money to improve what the people before us had left behind. New people were hired, a new office was opened up in Houston and new jobs were created. The company is developing well and future developments are under investigation. My wife is a speech therapist with over 20 years of experience and she tried to find a job as well. In and around Houston there were so speech therapy needs that we expected it would not be a problem for her to find a position. How wrong we were! Nobody wanted to hire her because she had a bachelor degree (this is the level and degree of the four year speech therapy education in the Netherlands) and not a masters degree as it is rated here in the US. She could only be hired as an assistant because also after her education was  recognized in a special board meeting.  Disappointment after disappointment was her share. After 6 months we finally received our credit card and we could start working on our credit score. We have never had ANY problems with our financial situation in our life and our international credit history is more than excellent! We are not people who want to have depths for reasons to prevent us ending up in the same problems most of the Americans had in the start of the financial crises. Now we are forced to make more depths, only to collect the credit points we need for future financial obligations, such as a mortgage. A few weeks back we started to look at houses because, also in this aspect, we want to fulfill the American dream all Americans have: owning our own house. Next to this it would save us approx 500$ to a 1000$ per month towards our lease house and next to this, it will be a future investment and savings for our children. We are looking at an average house of around 180.000 $ and we can pay more than one third of the price of the house in cash. Even for-closure houses (one would expect these banks want to solve this problem?) is possible for our situation. No bank is even willing to talk to us about a mortgage for the rest-finance and our dream is falling to pieces. We have tried everything possible in our power, like an international credit report, etc etc  to prove our credibility but the answer is always the same: no credit history. We have asked our current bank to increase our limit from $ 500 to $ 1000 and it was rejected: Not enough credit points! (Please bear in mind that I am having an above average salary) Now we have (again) purchased a car with a small finance ONLY to build credit history. We are forced to make depths against our will. Also we have been advised to open up more bank accounts and get more credit cards just for the purpose of building our credit score. So we went to another bank to open up a new account. The account was opened and the credit card was rejected. Not enough credit history! We are in the middle of a vicious circle, we get no finance because we have no credit score and we do not get the facility to build credit score. As honest, hard working people we have become totally frustrated being treated as 3rd rang citizens and we do not know anymore how to achieve the score we need to get to achieve our goal to buy a house and set up our living in the US. We cannot understand why the banks do not want us to support in buying a house in spite of our contribution in the purchase price. Who is carrying the risk? Not the bank, but me as the buyer. When the crises hit Europe, like in the US, the governments pumped billions of Euros in the financial institutions. This was done under the condition that this money had to be returned into the economy. It was tax payer’s money and it had to be returned to the tax-payer. Banks still operate as banks and provide loans and investments. Clearly this is not the case in the US. The banks sit on their money and the economy is totally blocked because of this. It doesn’t look as if a recovery of the economy is in progress and we are not surprised about this at all. We are wondering if we have made a good decision with accepting the Green Card and putting so much effort in contributing to the American society and economy. We are truly disappointed in receiving so many problems in setting up our life her in the US. George and family, Houston
Posted By Anonymous read more

No American Dream in My Town

Nov
18
       Frist I like to say Congratulations Sir We need Change.                                           I'v Lived In Delano California All my Life I am Married am 36 and have two boys and two girls Work hard to give my family the American Dream.                                               Got my home in 2000 was very happy to give them a place to call home and grow, When I got my home it was perfect, in 2004 my family grow and needed to add some rooms at the time the housing was growing it was easy to get refinance paid a contractor to do the work of adding two new rooms we spent over $18,000.00, the work was never done and our home defaced and lefted undone had to get more money to finish.          Now we face losing our home with Aurora do to Housing Debt Ratio is greater than amount allowed for HAMP.I belive you are tring your best for every American to save there home I only wished the Banks ets. felt the same, All I been seeing is Americans abanding your homes tried of doing all the paper work over and over to save there home, I to will have to move on No American Dream in my Town, next week there will be nothing to give thank's to because will have to start saving money to put down for rent.         Americans Are looking for Change and hopes it comes soon think you for taking time to read my letter and God Bless.                 
Posted By Anonymous read more

When hard working American's can't compete to buy a home!

Sep
07
My husband and I have been trying to buy a home for years now, but we are finally in the right position to do so. Except we can't buy a home because every time we make a bid Someone comes in and buys the house for cash. Or we're just over looked completely. It's so frustrating to be debt free, but still unable to purchase a home. When are responsible law abiding Americans going to be able to live the American dream?                                                                                                                   aranda_smith01@yahoo.com
Posted By Anonymous read more

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