Word: rosemonde
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...genuinely victimized by predatory or unscrupulous lenders as opposed to those who simply made bad financial decisions (especially property flippers) and took on more housing debt than they and their salaries could ever afford. "We want folks to be able to hold on to the American dream," says Daniel Rosemond, the Miami Gardens director of community development. "But at the same time, in a low-wage region like South Florida, we have to be realistic about people who, frankly, aren't ready to be homeowners...
...largest mortgage banks, Fannie Mae and Freddie Mac, the Department of Housing and Urban Development (HUD) has 60 days to lay out a plan for how the homeowner aid will be disbursed via state and local agencies. After that it has 30 days to send it out. Officials like Rosemond, who this summer created a foreclosure prevention program in his city to help distressed homeowners buy more time, hope that lenders who are poised to pounce with notices will hold off until the money arrives to help debtors make up for delinquent mortgage payments and refinance into more affordable mortgages...
...Gardens, a working/middle-class city that prides itself on its family and community cohesiveness. The city was incorporated, in fact, in 2003, at the height of the boom, which has since helped its population of 110,000 reach a 71% homeowner rate. "It's the core of our existence," says Rosemond. The city's property tax revenue leapt by 65% last year - and its property values have risen 120% the past five years. But for a city with a median income less than $40,000, it was all a bit out of whack. Rosemond notes that before the bubble burst last...
...Rosemond agrees. He's already envisioning rules for the federal aid when it reaches Miami Gardens - such as prohibiting refinancing with adjustable-rate mortgages and requiring 30-year fixed loans in order to be eligible for relief. He also hopes to establish rent-to-own programs, providing landlords with incentives to give house and apartment renters the option to buy their units once they've saved enough and built a strong enough employment and credit history. "We need people to rent longer before they buy houses, but we also need renters to feel like they have a stake in those...
Plenty of experts believe that spanking is not always wrong. John Rosemond, executive director of the Center for Affirmative Parenting in Gastonia, N.C., and author of several books on discipline, notes that 50 years ago almost all children were spanked. Yet by all accounts, children are more aggressive and prone to violence today, and at earlier ages, than they were back then. Rosemond isn't advising parents to break out the whip. He simply points out that existing research on spanking is unpersuasive. "There is no evidence gathered by anyone who doesn't have an ideological ax to grind that...