HUD: Choice Neighborhoods Planning Grants Awarded
The U.S. Department of Housing and Urban Development (HUD) today awarded nearly $5 million to six communities to help create plans to redevelop severely distressed HUD assisted housing and revitalize neighborhoods. Funded through HUD’s Choice Neighborhoods Initiative, these grants will help local leaders to craft comprehensive, homegrown plans to revitalize and transform these neighborhoods. HUD’s…
FHFA: Index Shows Mortgage Rates Increased in January 2018
Nationally, interest rates on conventional purchase-money mortgages increased from December to January, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.12 percent for loans closed in late January, up 4 basis points from 4.08 percent in December….
FHFA: U.S. House Prices Rise 1.6 Percent in Fourth Quarter 2017
U.S. house prices rose 1.6 percent in the fourth quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.7 percent from the fourth quarter of 2016 to the fourth quarter of 2017. FHFA’s seasonally adjusted monthly index for December was up 0.3 percent from November. The HPI is…
OCC: Publication Focuses on Single-Family Rehabilitation Financing Programs
The Office of the Comptroller of the Currency (OCC) published the latest edition of its Community Developments Investments newsletter titled “Expanding Housing Opportunities: Single-Family Rehabilitation Financing Programs.” This edition of Community Developments Investments discusses how national banks and federal savings associations can help revitalize communities by establishing housing rehabilitation loan programs. The publication describes how…
HUD: FHA Expands Foreclosure Relief for Victims of 2017 Disasters
New options offered to struggling homeowners impacted by hurricanes, wildfires and mudslides WASHINGTON – The Federal Housing Administration (FHA) today announced expanded mortgage relief to FHA-insured homeowners who live or work in areas impacted by Hurricanes Harvey, Irma and Maria as well as California wildfires and subsequent flooding and mudslides. FHA is instructing mortgage servicers…
FEMA: Progess. Partnerships. Preparedness. Six Months after Hurricane Harvey
Six months since Hurricane Harvey battered the Lone Star State, Texans in coastal towns, urban areas, and rural counties continue to move forward with their unprecedented recovery. Hundreds of thousands of homeowners are already repairing or rebuilding their hurricane damaged houses or have found new rental apartments or homes. Their recovery activity was fueled by…
HUD and Census Bureau: Residential Construction Activity Report January 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for January 2018. Building Permits: Privately owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,396,000. This is 7.4 percent (±1.2 percent) above the revised…
CFPB: Thinking About Buying a House in 2018? Here’s What You Need to Know
Are you thinking about buying a house this year? We’ve got tools and resources that will help you get your financial house in order as you prepare to look for that perfect place to call home—and shop for a mortgage that’s right for you. Just as in 2017, the supply of homes for sale is…
FEMA: One Month Recovery Update for Southern California
It’s been one month since FEMA’s Individual Assistance program was approved for Southern Californians in Santa Barbara, Ventura, Los Angeles and San Diego counties. Here’s an update on recovery numbers as of close of business Feb. 14: 582 households eligible for FEMA individual assistance. FEMA has approved more than $3.4 million in individuals and households…
FEMA: How to Create Permanent Housing Plans
FEMA Guidance on Moving Back Home Florida Hurricane Irma survivors who return home achieve a recovery milestone. They can reach this goal by creating a realistic permanent housing plan. Survivors who receive temporary FEMA housing assistance—hotel stays, rental assistance, travel trailers and FEMA-paid apartments—must routinely show they still need help and look for long-term options….