Changes

Bill Clinton addressed a letter to HUD Secretary [[Henry Cisneros]] on November 3, 1994. In it he instructed Cisneros to  

Bill Clinton addressed a letter to HUD Secretary [[Henry Cisneros]] on November 3, 1994. In it he instructed Cisneros to  

{{Cquote|dramatically increase homeownership in our nation over the next six years. I request that you report back to me within six months, with a concrete strategy involving the private and public sectors, and all levels of government, that builds on the base of the more than 1.5 million additional families who have been able to buy their own homes...to ensure that families currently underrepresented among homeowners - particularly minority families, young families, and [[low-income]] families - can partake of the American Dream."<ref>http://economy.typepad.com/the_economy/2011/10/rate-watch-795-the-national-homeownership-strategy-october-7-2011by-dick-lepre-dickleprerpm-mtgcom-wwwloanminecom.html The National Homeownership Strategy,] October 7, 2011. See also [http://www.globalurban.org/housing_us.htm globalurban.org]</ref>}}

{{Cquote|dramatically increase homeownership in our nation over the next six years. I request that you report back to me within six months, with a concrete strategy involving the private and public sectors, and all levels of government, that builds on the base of the more than 1.5 million additional families who have been able to buy their own homes...to ensure that families currently underrepresented among homeowners - particularly minority families, young families, and [[low-income]] families - can partake of the American Dream."<ref>http://economy.typepad.com/the_economy/2011/10/rate-watch-795-the-national-homeownership-strategy-october-7-2011by-dick-lepre-dickleprerpm-mtgcom-wwwloanminecom.html The National Homeownership Strategy,] October 7, 2011. See also [http://www.globalurban.org/housing_us.htm globalurban.org]</ref>}}

On June 5 1995, Clinton and Cisneros<ref>Cisneros, along with DNC Chairman Christopher Dodd and cabinet Secretary Donna Shalala, was implicated in the Countrywide Mortgage lending scandal for receiving special favors and treatment while in office.</ref> unveiled one hundred things the Clinton administration planned to do to "increase home ownership to two-thirds of the population"<ref> ''My Life'', Bill Clinton, Knopf, 2004, p. 658; [http://confoundedinterest.files.wordpress.com/2013/01/nhsdream2.pdf The National Homeownership Strategy,] U.S. Department of Housing and Urban Development, MAY 1995. </ref> in the United States.

On June 5 1995, Clinton and Cisneros<ref>Cisneros, along with DNC Chairman Christopher Dodd and cabinet Secretary Donna Shalala, was implicated in the Countrywide Mortgage lending scandal for receiving special favors and treatment while in office.</ref> unveiled one hundred things the Clinton administration planned to do to "increase home ownership to two-thirds of the population"<ref> ''My Life'', Bill Clinton, Knopf, 2004, p. 658; [http://confoundedinterest.files.wordpress.com/2013/01/nhsdream2.pdf The National Homeownership Strategy,] U.S. Department of Housing and Urban Development, May 1995. </ref> in the United States.

Clinton's plan spoke approvingly of a "no-down payment 100 Percent Mortgage Financing Program" used by one of the "Strategy partners".<ref>National Homeownership Strategy, US Dept. of Housing and Urban Development, pp. 4-7.</ref> Where down payments could not be eliminated, the plan advocated use of "a second, unsecured, interest-free loan to cover the down payment and other costs."<ref>National Homeownership Strategy, US Dept. of Housing and Urban Development, pp. 4-14, 4-17.</ref> The administration praised Fannie Mae and Freddie Mac for their efforts to promote lending flexibility: "In recent years many mortgagees have increased underwriting flexibility. This increased flexibility is due, at least in part to … [[liberal]]ized affordable housing underwriting criteria established by secondary market investors such as Fannie Mae and Freddie Mac."<ref>National Homeownership Strategy, US Dept. of Housing and Urban Development, pp. 4-13</ref> To illustrate the desirable flexibility the Strategy cited a Connecticut program that "allows for nontraditional employment histories, employment histories with gaps, short-term employment, and frequent job changes."<ref>National Homeownership Strategy, US Dept. of Housing and Urban Development, pp. 4-14.</ref>

Clinton's plan spoke approvingly of a "no-down payment 100 Percent Mortgage Financing Program" used by one of the "Strategy partners".<ref>National Homeownership Strategy, US Dept. of Housing and Urban Development, May 1995, pp. 4-7.</ref> Where down payments could not be eliminated, the plan advocated use of "a second, unsecured, interest-free loan to cover the down payment and other costs."<ref>National Homeownership Strategy, US Dept. of Housing and Urban Development, May 1995, pp. 4-14, 4-17.</ref> The administration praised Fannie Mae and Freddie Mac for their efforts to promote lending flexibility: "In recent years many mortgagees have increased underwriting flexibility. This increased flexibility is due, at least in part to … [[liberal]]ized affordable housing underwriting criteria established by secondary market investors such as Fannie Mae and Freddie Mac."<ref>National Homeownership Strategy, US Dept. of Housing and Urban Development, May 1995,pp. 4-13</ref> To illustrate the desirable flexibility the Strategy cited a program that "allows for nontraditional employment histories, employment histories with gaps, short-term employment, and frequent job changes."<ref>National Homeownership Strategy, US Dept. of Housing and Urban Development, May 1995, pp. 4-14.</ref>

=== Budget and tax increases ===

=== Budget and tax increases ===