This ought to infuriate just about everyone… How much have we all in construction DONATED to Habitat for Humanity?! Well, let me shed some light on costs to build affordable housing, especially when there is so much labor donated. Separate the materials from the labor and materials will run about $36 -$42 psf on the high side. Full on licensed labor is usually less than $65 psf. Even if nothing is donated an entire affordable home would cost less than $100 psf. The larger the floor plan the less per square foot – it decreases.
What I found astounding, but not surprising is that Habitat for Humanity is in bed with Fannie Mae, of course… never miss a nickel or a chance to land grab, huh?
Community Organizations Through partnerships at the community level, Fannie Mae is able to meet the needs of families in a far more direct and impactful way. We work with established organizations in communities across the country to prevent foreclosure, revitalize neighborhoods, address homelessness, and much more. For example, in 2011 we partnered with HomeFree-USA, local community and elected officials, and area mortgage servicers to open a Mortgage Help Center in Prince George’s County, MD, to help struggling homeowners in the Washington, DC area. (Read more about Fannie Mae Mortgage Help Centers on page 19 of this report.) Also, as a result of our long-standing partnership with Habitat for Humanity, Fannie Mae employee volunteers built and refurbished homes and properties in particularly hard-hit communities. See A Report on Fannie Mae’s Mission Activities
These guys would securitize their mothers! How horrendous is it to target the poor and then overcharge them for their fictitiously free home – and then have the kahunas to foreclose on these folks?! Look in your land records office – these crooks even did 80/20 loans – and for someone who cannot afford a home any other way – that sure stinks like intent to tilt the homeowners right on into foreclosure.
Every state in the nation ought to sue the Habitat for Humanity organization, audit their books, follow the money and throw them out of the state! Deceptive advertising is the least of this – targeting the poor for the profits of securitization is morally
corrupt; nah, worse than that – morally and mentally bankrupt.