FDIC Federal Register Citations

From: Charity Hall [mailto:chall@tls.net]
Sent: Monday, October 18, 2004 12:08 PM
To: Comments
Subject: CRA RIN number 3064-AC50 - Opposition to proposal

Charity Hall
7690 W. 450 S.
Columbus, Indiana 47201

October 18, 2004

Federal Deposit Insurance Commission
,

Dear Federal Deposit Insurance Commission:

I am grateful that financial institutions have been involved in community
development projects for quite some time and I have heard and read about
changes that could affect so many individuals from the assistance that
they need to purchase affordable housing. I have been a homeowner for
over 35 years, I have worked in a loan department of a credit unit and I
currently work in an organization that sells and rents to familes to
moderate to low income families. As our organization struggles to fund
the gap between the cost of housing and familes affordable amount is
becoming greater every day and to loose CRA funding will mean fewer
opportunites for lower - to - low income families to obtain affordable
housing. Just look around at the number of familes that have gone from
middle income to lower income because of the rising cost of housing
compared to the lower wage. Many familes have gone from $18 per hour to
$9.00 per hour just because of company downsizing. Mortgages are in
foreclosure, property taxes have risen, cost of housing has increased
significantly and organizations that use to gain a fee from helping
familes become first time home buyers have been squeezed to get a client
and house to balance out. The CRA funds are so desperately needed and
that is why I oppose the proposal to eliminate the financial institutions
from participating in helping individuals are considered to be loer-to-low
income especially in the rural areas where few needs are being met.

In the current economic decline that this nation has been in we must
continue to support those issues that keep laws in place that support
revitalizing communities, increase minority (income minorities)
homeownership opportunities and gives an increases small business
ownership. We have to have that to keep this country going strong. These
individuals are the heart of America and the strong businesses that will
help improve the economic outlook if we do not throw them away with the
proposed changes by the FDIC.

Please please, please - rescind your proposal.

Sincerely,

Charity D. Hall