Hendersonville, NC, May 17, 2016 --(PR.com
)-- Congressman Mark Meadows is an advocate for affordable housing. After meeting with Henderson County Habitat in 2013 where they originally gave him the idea, Congressman Meadows introduced bipartisan legislation called The Protecting Habitat Homeownership Act. “For years, I’ve followed the great work Habitat for Humanity does in communities across our great nation. Many years ago, I knew of several individuals in western North Carolina who benefited from Habitat, and I got to see firsthand how it met very specific needs,” said Meadows.
When the 111th Congress passed Dodd-Frank, the bill included dozens of new rules and requirements for mortgage providers nationwide. Unfortunately, this legislation makes Habitat for Humanity, which has a proven model of success in providing affordable mortgages to low-income families, subject to the same compliance regulations as big banks, credit unions and other traditional mortgage providers.
Most Habitat affiliates have very small mortgage portfolios and volunteer staff who just want to help their communities and ensure that their fellow citizens have homes of their own. These community-based organizations are forced to divert significant time and money toward complying with Dodd-Frank’s requirements. The bipartisan Protecting Habitat Homeownership Act provides Habitat, and other nonprofits providing responsible low-income homeownership opportunities, with a targeted exemption from certain mortgage, servicing, and appraisal requirements so they can focus on doing what they do best: working with their communities to build houses for families.
Congressman Meadows will return to Henderson County Habitat this month to help build an affordable home. “I’m looking forward to working side by side with a Habitat future homeowner and helping to make their dream of homeownership a reality,” said Meadows.
To get involved with Henderson County Habitat, call 828-694-0340.