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Now there's Section 8 for home ownership in Mass?

Discussion in 'Political Discussion' started by PatriotsReign, Nov 8, 2010.

  1. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Seriously....WTF!!:mad:

    People can now get section 8 to pay for their mortgages in Massachusetts. If this doesn't get Mass voters pissed off, then they have their heads in the sand.

    Let's not begin using our federal or state tax dollars to fund home ownership for anyone. Either you can afford to buy a home or you can't.

    Check out this link;

    Massachusetts Section 8 Homeownership Program
     
  2. Real World

    Real World Moderator Staff Member

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    I wish more people only knew how wastefull, and horrendously run the MHFA is.

    BTW, how's this line work out for you.

     
  3. Drewski

    Drewski In the Starting Line-Up

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    Is this a new program here in MA? When did the opportunity to purchase a home become a taxpayer funded right? I must have missed the memo on that one.

    All the issues which have come up since the housing/mortgage crisis may really cause of a paradigm shift in America. The system my parents and their parents worked within, and thus passed the ideals associated with that system to me focused around working hard, living within your means and hopefully at some point you will be financially secure enough to put down the 20% (what once was standard) to buy a home of your own. Nowadays its seems the system built around those ideals has gone out the window, where owning a home (aka the "American Dream") is now a right that every person; whether they can afford it or not, has bestowed on to them.

    Hey you have bad credit, or don’t make enough to have a traditional mortgage? Take out a ARM and buy that house you always wanted, even though you prolly can’t afford it.

    Hey, you can’t afford to buy a home? Let the taxpayers of MA pick up 70% of your Mortgage.

    What the hell is going on here? I’m all for housing assistance to help a person/family rent their home. But to buy one????

    Why am I busting my ass to save up the money for a down payment, so that the rent payment I'm making now turns into an equity building exercise for me rather than my landlord, when all along you can get a house, with more than two thirds of the cost being picked up by the taxpayer?
     
  4. STFarmy

    STFarmy In the Starting Line-Up

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    Saving is out in America, sir. Waiting for handouts and blaming rich folks is in. There's nothing America loves more currently than meaningless blame and debt.
     
  5. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    I couldn't afford to buy a house in MA until this past May and I'm 51 years old! How do you think I feel about helping pay for people who don't deserve home ownership?

    Hell, maybe I should try to find an easy, low-stress job so I can become a section 8 home owner?

    Anyone have a clue who to call to stop this program?
     
  6. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Note: I called my MA state rep's office and they informed me that this is a federally funded program. The money is approved on a federal level.

    The woman told me very few people get the section 8 home ownership vouchers. When I asked how many is "very few", she couldn't or wouldn't tell me.
     
  7. Real World

    Real World Moderator Staff Member

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    The funds might come from HUD (the fed), but the program runs through the MHFA (the state). Either way it's taxpayer money. HUD is another agency the fed should soon revisit. It's an albatross.
     
  8. Mrs.PatsFanInVa

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    #24 Jersey

    Funny. You must have missed the announcement from President Bush back in 2001 when the program started.

    ExpectMore.gov: Homeownership Voucher
     
  9. Mrs.PatsFanInVa

    Mrs.PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    #24 Jersey

    Can't find how many of the vouchers were given in Ma....but there have been 7 of them issued since 2007 in Norwalk. That would be what? About 2 per year?

    With homeownership voucher program American dream becomes reality - Norwalk Citizen
     
  10. Drewski

    Drewski In the Starting Line-Up

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    Perhaps, but depending at what point in 2001 I would have missed it since I didnt move back to the states until June 2001, not to mention saving for a house wasnt even on my radar my freshmen year of college; was more focused on re-acclimating to living in the US, figuring out how I was going to buy booze now that I lived in a country that was 21 to drink, you know the typical college-aged conundrums

    Either way this is a horrible plan and another reason Bush sucked.
     
  11. Mrs.PatsFanInVa

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    #24 Jersey

    Ah, yes....back in the good old days. ROFLMAO :)

    It doesn't sound like all that great of an idea, does it? I've been checking it out a bit, however, and the pre-requestites are pretty rigerous. It doesn't sound like you can just walk in and say, "Give me my house." The fact that Norwalk has only issued 7 loans in 4 years seems to back that up, too. The people applying have to be really motivated since they must attend a
    sh!tload of classes, work full time, have a down payment saved and prove where that savings came from, (in other words, it can't be a gift, inheritance, etc.) pay their own closing costs, pay for their own inspections and a host of other qualifiers.

    It would be interesting to see the end result cost of doing it this way vs rental public housing assistance. I've no idea if it's comparable or not. Buying, long term, regardless of how you do it, is generally more cost effective than renting so maybe it works out that HUD actually saves money on each bought house as opposed to each rental paid for with government money.

    Don't know...doesn't sound like it happens all that much to make that big of a difference. It just tickles me when people get so indignant about things which have been going on for a decade or more and try to act like it's all brand new and must be immediately stopped.

    Kinda makes you wonder why it didn't bother them earlier.
     
  12. PatsWSB47

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    #12 Jersey

    This is older than that. If Bush announced it he missed these earlier memos :p It all started back in 1937:


    Homeownership Voucher Program authorized by Section 8(y) of the U.S. Housing Act of 1937, as amended by Quality Housing and Work Responsibility Act of 1998
    HUD approved 15 PHAs to operate pilot programs under the proposed rule
    Final Rule published September 12, 2000, became effective October 12, 2000


    http://www.hud.gov/offices/pih/programs/hcv/homeownership/msdhomeownership3-20-03.ppt

    [PPT]
    Housing Choice Voucher Homeownership Program
    File Format: Microsoft Powerpoint - View as HTML
    Oct 18, 2002 ... Homeownership Voucher Program authorized by Section 8(y) of the U.S. ... published September 12, 2000, became effective October 12, 2000 ...
    www.hud.gov/.../programs/.../homeownership/msdhomeownership3-20-03.ppt - Similar
     
  13. Drewski

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    Valid points. Im happy to hear that it doesnt occur that often and I did read through some of the requirements which did seem pretty wired tight.

    That being said the idea doesnt bode well with me regardless of when it came to be. I guess i assumed it was newer, but why i asked in my first post.
     
  14. Real World

    Real World Moderator Staff Member

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    [
    BOOOOOOOOOOOOOOOOOOOSH!

    Oh, Bush announced it. I guess it's ok then. :rolleyes:

    Oh, only 7 in Norwalk? Well, in that case who cares right? :rolleyes:

    If it happened once, it's happened too much already. No one, and I mean absolutely no one, should have their mortgage paid for by another taxpayer. The program is a joke. I can't fathom why anyone would defend it.
     
  15. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    And who gives a flying phark when you find out about it? As if that's relevant. Hey, I'm sure we have a zillion "programs" many of us don't know about.

    You know what I'd love to see? A frikkn' list of all the "assistance" programs that taxpayers fund!! I wonder if such a list exists RW.
     
  16. sdaniels7114

    sdaniels7114 Experienced Starter w/First Big Contract

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    This isn't the sort of charity I want. If it was some sort of pilot program that would be one thing; but I can't support doing it for 10 years.
     
  17. Real World

    Real World Moderator Staff Member

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    Lets hope some of the newer generation in the legislature create such a list, if one doesn't exist. What a lot of people don't consider, is what government subsidy, or assistance plans do to natural pricing. My point is that a government subsidy can sometimes artificially inflate the price for everyone else. For example, when the gubmit subsidizes rent, then the government associated rent goes above the market rate. If you get $800 from a self funded Joe, then you get $1,100 from someone on welfare. That artifically raises what the "market rate" is. The same applies to tuition, or to real estate. The more cheap money, free money, or subsidized money you toss into a market, the more artificially inflated that market becomes.
     

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