Builder Review continues its highlight of the more than 100 initiatives by your HBA that have saved HBA members during the last year. Below is another way your HBA is saving our members money.
Keeping Credit Flowing for Home Builders. Ensuring there is sufficient credit to produce new homes is essential to keeping builders in business. Because the difficulty of accessing and maintaining construction credit continues to be a major obstacle for home builders and the housing recovery in general, NAHB has been aggressively pushing for solutions to this crisis on both the regulatory and legislative fronts. NAHB-introduced legislation to help resolve the credit crisis is pending in both houses of Congress.
Meanwhile, NAHB is leading the effort to help its members find alternative sources of financing so that they can obtain the necessary financing they need to stay in business. NAHB has identified several companies that are offering financing to builders, and we have provided members with a list of nontraditional lenders willing to finance home construction. NAHB also has developed a web-based toolkit for people seeking AD&C funds from local investors such as family, friends and other high net worth individual investors. That toolkit is now available at nahb.org/FundingToolkit. The bottom line: Mortgage liquidity is the lifeblood of the housing industry. If builders can’t get housing production loans, they can’t build homes and they can’t stay in business. For more information, go to www.nahb.org/adc.