NEW YORK--()--Due to the housing market downturn that began in 2007, current and future homeowners are facing many obstacles. The thought of homeownership seems to have left many wondering if the American Dream still exists. Proposed new rules may require eligible borrowers to put down 20% before a mortgage lender qualifies their home loan, and limit them to mortgage payments that are no more than 28% of their gross income. Current homeowners may also face a new hurdle, as some lawmakers are proposing to remove the mortgage interest tax deduction. These and other proposals could jeopardize not only a consumer’s ability to purchase a home, but also a homeowner’s ability to stay in their home, both of which would negatively impact a housing recovery.
“It’s ambitious, but the American Dream is synonymous with homeownership, and we want to make sure our President understands that the housing market needs to be a priority on the nation’s public policy agenda.”
Direct-to-consumer title insurance company ENTITLE DIRECT believes that there is no place for legislation that would prevent responsible Americans from owning a home. Accordingly, the Company is launching the Million Key Cause campaign to breathe new life into the concept of the American Dream by asking policymakers to make housing market improvements a top priority on their agendas. The campaign will urge lawmakers to support new legislation that would make homeownership a real possibility for thousands of Americans.
As the nation’s leading consumer advocate on closing costs and the real estate closing process, ENTITLE DIRECT hopes the Million Key Cause will help shift the political dialogue to focus on stabilizing the housing market. The campaign asks current homeowners, prospective homeowners and owners-turned-renters to proclaim their support of the American Dream by sending a physical or electronic key to ENTITLE DIRECT. Physical keys can be mailed to ENTITLE DIRECT’s Corporate Headquarters in Connecticut and electronic keys can be submitted via the ENTITLE DIRECT Facebook Fan Page. These keys will then be forwarded to our nation’s lawmakers.
“The goal is for us to receive 1 million keys by July 2012, so we can send them to the Republican National Convention taking place in August and the Democratic National Convention taking place in September,” says Timothy Dwyer, CEO of Entitle Direct Group and Founder of ENTITLE DIRECT. “It’s ambitious, but the American Dream is synonymous with homeownership, and we want to make sure our President understands that the housing market needs to be a priority on the nation’s public policy agenda.”
This initiative emphasizes ENTITLE DIRECT’s commitment to protecting homeownership for our country’s families and future generations. At the 2011 Realtors Conference & Expo, speakers at the Legislative and Political Forum made it clear that the struggling housing market needs to be a public policy priority, as housing and homeownership issues affect all Americans. In fact, the 2010 National Association of Realtors Public Awareness Campaign Survey revealed that more than three quarters of consumers believe that owning a home is an investment in their future. However, recent ENTITLE DIRECT National Realtor Survey of over 800 real estate agents and brokers revealed that 61% believe many homeowners are selling in the current economy because they simply can no longer afford homeownership.
“We created ENTITLE DIRECT because we envisioned something more for consumers. Our goal is to lower out-of-pocket closing costs by hundreds or thousands of dollars and educate buyers on the closing process,” says Dwyer. “Typically, title insurance represents nearly 60% of closing costs. That’s why we created a unique model for title insurance. We believe that providing consumers with tools to help them enter the real estate market and responsibly own a home will not only aid in a housing market recovery, but also showcase the American Dream.”
Dwyer adds, “Our hope is that the delivery of a million keys will serve to demonstrate to political candidates just how important housing issues are to constituents across the Country, and encourage all lawmakers to pass legislation that encourages responsible homeownership.”
Million Key Cause:
Learn how to send a physical or electronic key and get more information on the campaign at www.entitledirect.com/millionkeycause.
About ENTITLE DIRECT:
Entitle Direct Group, Inc. is based in Stamford, Connecticut, and is the parent company of EnTitle Insurance Company, the country’s first direct-to-consumer title insurance company offering savings of up to 35% on title insurance. The ENTITLE DIRECT website is the direct-to-consumer distribution channel and an operating division of EnTitle Insurance Company.
EnTitle Insurance Company was founded in 1978 in Cleveland, Ohio, where it remains headquartered today. EnTitle Insurance is regulated by the Ohio Department of Insurance and is approved to issue title insurance by the Department of Insurance in every state where its policies are offered. EnTitle Insurance Company is a member of the American Land Title Association, and only issues policy forms approved by the American Land Title Association and other state associations, where applicable.
Timothy Dwyer, CEO of Entitle Direct Group, is available for interviews.