Newspapers / Winston-Salem Chronicle (Winston-Salem, N.C.) / July 21, 1994, edition 2 / Page 12
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84 Percent of Renters Say Home Ownership is Best ? Nearly 7\in 10 don't rent by choice More than H in 1.0 renters (K4%) ques tioned in Fannie Mae's 1994 National Housing Survey say that people "are better oft" owning a home" than renting, and nearly 7 in 10 (67%) rent because they can not afford to buy. In addition. .S / percent of renters ^y that buying a honk4 is a very important personal priority. ~~ ? " ? ? ? - ? " ? ? ? t ? At the same time, tiiasurvey ? said Americans associate higher levels of homeownership with a broad range of positive benefits for the economy, their neighborhoods, and their family finances. Both homeowners and renters believe that a 15 percent increase in home ownership rates in their area would lead automatically to a better econ omy, more children receiving col lege degrees, more families getting ahead financially, increased neigh borhood safety, and better turnout in local elections. Even the antici pation of buying a home inspires optimism, in that renters most apt "to buy a home are more than twice as likely (70%) a$ current owners . ( \?%) to believe their families' financial situations will improve in the next year. 1 However, the survey also found that perceptions by African Americans of racial discrimination in the home buying process contin ue at a very troubling level, and that African Americans have only a mediocre level of confidence in the home-buying system ? ranking ? it barely ahead of how they view the nation's public schools. Two in five (42%) African Americans believe discrimination or sociat" barriers are a major obstacle to homeownership. Among African Americans, discrimination ranks as in obstacle only behind the do&n payment, finding affordable hous ing, and finding an appropriate neighborhood. Fifty-four percent, of African Americans say blacks face discrimination in the availabil itv of mortgages all or most of the time, compared with 4 1 percent of, Hispanics and 26 percent of whites ?who believe blacks face discrimi? ' nation. James A. Johnson, Fannie Mae chairman and chief executive officer, said that the housing finance system needs to communi cate better the realities of home ownership in America and the steps families need to take as they proceed on the path to buying a home. Even the anticipation of buying a house creates a feeling of optimism about the future. Renters, who are very likely to become home buyers are twice as likely (70%) as current owners (33%) to believe their family's financial sta tus will improve within a year. For renters, the top five obstacles to homeownership are: downpayment (65%), affordable housing (51%), finding the right neighborhood (36%), insufficient information (33%) and credit prob lems (33%). Only forty-five percent of adults are comfortable with the information they need and the ter minology used for the home-buy ing process. Fannie Mae is a congres sionally chartered, shareholder owner company and the nation's largest source of home mortgage funds. It has committed $1 trillion in targeted lending by the end of the decade that will serve low- and moderate- income families,, minori ties, new immigrants, residents of central cities and other underserved areas, and people who have special housing needs. t / -p ? . . - - I \ ? ' . . ? ? . - ? ? -- ?' Cathie McCallum ___ Administrative Support Person Of The Year Named When Marshall Armstrong, Contracts Manager, Fortis Homes, summed up why Cathie McCallum was chosen Administrative Sup port Person of the Year, he said simply, "She's my right-hand per ,son. Each year Fortis Corpora tion honors its outstanding employees at their annual banquet which was held this year at The Marque in Winston Salem. This year a new category of administra tive support was added, and McCallum was easily selected. Says Armstrong, "Cathie always responds whenever there is a need. She is efficient and always has a pleasant, positive attitude. No matter what we pile on her, she never complains/' McCallum has been with Fortis for about a year and a half. At first, she wasn't sure how she would fit in since her job was so different from what she had done in the past. But she said her coworkers made her feel welcome and was very supportive as she learned her new job. Now she is comfortable with her many duties that involve getting a house started. She handles plot plans, gets per mits, works with the house budget, coordinates paperwork with the field reps, and works with the pro ject manager. Says McCallum, "Fortis is a good company, and I like having the opportunity to meet, and work with different people/' MeCallum attended Salis bury Business College, and has also modeled professionally with the John Casablanca Agency in Charlotte. She is also engaged to be married, although a date hasn't been set yet. How does she manage to juggle the demands of her job with her outside interests and plan a wedding, too? According to MeCallum, it's easy. "J just like to stay busy!" Cathie McCallum
Winston-Salem Chronicle (Winston-Salem, N.C.)
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July 21, 1994, edition 2
12
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