"Hey, who loves ya, baby? No down? No problem"

Who We Are

National non-profit ACORN Housing has been providing free housing counseling to low and moderate income homebuyers since 1987. We have opened HUD-certified, Fannie Mae-approved (ed.: now there's a confidence booster) housing counseling offices across the US, helping over 50,000 families to achieve homeownership.

ACORN Housing provides one-on-one mortgage loan counseling, first-time homebuyer classes, and helps clients obtain affordable mortgages through our unique lending partnerships. (ed.: that would be one way of phrasing it)

We look at your savings and credit history to see if you qualify for a mortgage. We can help you with credit problems and to create a downpayment savings plan.
When you qualify, we can help arrange a mortgage with lower interest rates, lower down payments and lower settlement costs than what banks usually offer.

Our Homebuyer’s Program

Counseling

Mortgage Programs

With AHC you get:
· Lower down payments and closing costs.

· No Private Mortage Insurance. (ed.: fully standard everywhere else... this insurance is there precisely in case of a default)

· Banks generally require 3 months of mortgage payments in the bank at settlement. (ed.: this equates to approx. a 2% down payment)

· With our program, they don't, which allows you to buy a home sooner. (ed.: Which they will still waive.)

· Most banks won't count public assistance or voluntarily child support in determining if you'll qualify for a mortgage.

· With our program, all steady income counts. (ed.: Yee-hah!)


We’d never believe it if we didn’t read it with our very eyes. The text above has been lifted directly from the ACORN website and spells out as clear as day some of the ingredients in the recipe for disaster that has been the mortgage meltdown.

That ACORN, the community organizer umbrella group that has been the subject of investigations which have resulted in indictments and convictions regarding voter registration fraud and which now sits squarely among the guilty parties in the finance crisis and which also has been the training ground for one particular Presidential candidate would leave all that up on their website is either brazen, incompetent or careless. We cannot decide which.

They have been able to accomplish all they claim they will for low and moderate income prospective homeowners through a combination of HUD grants (your tax dollars), corporate shakedowns and a relaxing of standard mortgage lending practices which the ACORN (in concert with Fannie Mae malfeasance) literature above makes plainly obvious.

We’ve been saying all along that this mortgage/finance crisis was not a failure of the "free-market" so add one more log to the bonfire of crony capitalism, kleptocracy and out-of-control quasi-governmental institutions that ACORN begins to resemble upon closer inspection.