From: Saqaun28@aol.com [mailto:Saqaun28@aol.com]
Sent: Thursday, September 16, 2004 7:41 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
Community Reinvestment
is extremely important for any urban area. I am a community developer
in the Brooklyn area
and there is now
a positive out look for homeowners and low income tenants. Homeowners
property value have skyrocket in least than 2 years from date. Low
income tenants are enjoying the fact that they only have to come
out of pocket with 30% of there incomes for rent. There are hundreds
of reasons why the CRA is such an importants. To change the current
regulations on this act will hurt the growth in urban communities
and as well diminish the already great work that the latest Mayors
(Rudolph G. & Michael B.) has work so hard doing not to the accomplishments
of these two men concerning affordable housing. If these matters
would be looked into very closely I'm sure you'll would have to think
twice about changing the regulation of the CRA.
