HUD Takes Steps to Increase Home Ownership by Women
In order to raise home ownership rates among women, the Department of Housing and Urban Development plans to give $250,000 to a coalition of groups to set up education and counseling programs for potential women home buyers. Housing Secretary Henry Cisneros announced Wednesday that HUD will also make information about home ownership accessible to women on a toll-free telephone line to be publicized at home buying seminars this summer. HUD is implementing the measures with the goal of achieving home ownership of an all-time high of 67.5 percent by 2000. In 1995, 65.1 percent of all households owned homes, but only 49.5 percent of women-headed households had ownership of their homes.
At a news conference, Cisneros cited barriers to women looking to buy homes including the fact that mortgage lenders often dismiss women as not being credit-worthy or refuse to acknowledge alimony, child support and earnings from part-time jobs as income.
Media Resources: The Associated Press - June 26, 1996