The American Homeownership Act will provide all families, regardless of income, greater opportunities to attain and preserve the American dream of owning their own home. The following page provides a general description of the legislation. Expanding homeownership opportunities into the next century.
All families deserve the opportunity to attain the American dream.
For many of us, the most important financial investment we make in our lives is our home. Homeownership gives each of us a share in the common good of the community, no matter what our income level. The American Homeownership Act allows families receiving Federal rental vouchers to use the assistance toward monthly mortgage payments. Local housing authorities are given authority to provide residents with downpayment assistance in lieu of monthly public housing assistance. We must preserve and protect opportunities for senior citizens to remain in their own homes near their families and friends .