In this article, I will explore the issues surrounding housing finance and what you should do as a homeowner to improve the market. If you are considering home ownership, consider the benefits of a housing finance program, and what your options are if your mortgage falls behind. Housing finance reform is vital to a healthy economy and stable families. If the housing market fails to respond to the needs of those in need, consider the following suggestions for improving the system.

Housing plays a critical socioeconomic role, and it is the main source of wealth for many poor people in the world. According to UN estimates, by the year 2030, the world’s population will reach 8.5 billion. 60% of this population will live in urban areas. In these countries alone, 3.5 billion people will need new housing. Rapid urbanization is putting a tremendous strain on existing systems, and many urban poor will be unable to afford a formal home without access to housing finance solutions.

Before launching a housing finance company, a company must obtain a Certificate of Registration (COR) from the National Housing Bank. If it does not, conducting business without a COR is a criminal offence. Further, housing finance companies must maintain a minimum Net Owned Fund of Rs 10 Crore. This money should be sufficient to meet the full claims of their depositors. The company should not engage in practices that are detrimental to the interests of depositors.

To address the housing affordability crisis in the US, there are several strategies for enhancing the health and sustainability of the housing finance system. First, consider the impact of tax credits on home ownership. While tax credits can help you buy a home, these programs are designed to benefit low and moderate-income families. As an alternative, consider acquiring an interest in a residential development to finance construction. If you can afford to pay off the loan, this might be the best option for you.