HUD: Asset-Building Support Expanded for HUD-Assisted Families
The U.S. Department of Housing and Urban Development (HUD) on Monday announced it will publish a rule to implement changes to the Family Self-Sufficiency (FSS) Program. The changes include permanently expanding the definition of an eligible family to include tenants of privately owned multifamily properties subsidized with Project-Based Rental Assistance (PBRA). “As we mark the…
HUD: Actions to Increase Affordable Housing Supply and Lower Housing Costs Higlighted
U.S. Housing and Urban Development (HUD) Secretary Marcia L. Fudge on Monday traveled to Columbus, Ohio to announce actions in the Biden-Harris Administration Action Plan to Ease the Burden of Housing Costs, The Plan is a set of legislative and administrative steps aim to close the housing supply gap within the next five years. Secretary Fudge…
HUD: FHA Supports Affordable Housing with Financing of $8.2 Million Mortgage for Senior Housing in Sacramento, CA
Insurance endorsement provided by FHA supports substantial rehabilitation of 32 units serving 55+ residents at 30%, 45%, 50%, and 60% of the area median income. The Federal Housing Administration (FHA) announced on May 13, that it has closed on a $8.2 million mortgage insured under FHA’s 221(d)(4) Substantial Rehabilitation program for Gloria Drive Apartments in…
HUD: Over $1.4 Million in Housing Assistance Awarded for Foster Youth During National Foster Care Month
The U.S. Department of Housing and Urban Development (HUD) announced over $1.4 million in housing assistance through the Foster Youth to Independence (FYI) initiative for youth transitioning out of foster care who are experiencing or at risk of experiencing homelessness. May marks National Foster Care Month, a time to renew the commitment to ensuring all…
HUD: Eviction Protection and Diversion Program Expanded with Additional $20 Million
The U.S. Department of Housing and Urban Development (HUD) on Monday announced $20 million in new grants for its Eviction Protection Grant Program, doubling the amount originally allocated for the launch of the Program in November 2021. HUD has offered grants to 11 organizations, in addition to the 10 organizations selected in November, to help non-profits…
HUD: Action Taken to Expand Broadband to Low-Income Households under Affordable Connectivity Program
Secretary Fudge reiterates commitment to expanding equitable access to affordable broadband coverage in rural, urban, and suburban communities The U.S. Department of Housing and Urban Development (HUD) today informed more than 4 million HUD-assisted families that receiving benefits from the Bipartisan Infrastructure Law’s Affordable Connectivity Program (ACP) does not count as income for determining family…
Joint Statement on Continued Efforts to Connect Homeowners to Pandemic Relief Issued
The Secretaries of Housing and Urban Development Marcia L. Fudge, Veterans Affairs Denis McDonough, Agriculture Tom Vilsack and Treasury Janet L. Yellen are calling on servicers of federally backed mortgages to make every effort to ensure no individual or family unduly experiences unnecessary hardship or foreclosure while assistance is available under the Homeowner Assistance Fund. The…
HUD: Disaster Assistance Announced for New Mexico Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance to State and local recovery efforts in the areas of New Mexico affected by wildfires and straight-line winds beginning on April 5, 2022, and continuing. On May 4, President Biden issued a major disaster declaration for the counties of Colfax,…
HUD: FHA Takes Additional Steps to Expand Affordable Housing Supply through FHA’s Claims without Conveyance of Title
Mortgagee Letter supports the Biden-Harris Administration’s efforts to increase the supply of affordable housing and expand access to homeownership for low- and moderate-income homebuyers. The Federal Housing Administration (FHA) announced on Thursday that it published Mortgagee Letter (ML) 2022-08, Expanding Affordable Housing Supply Through FHA’s Claims Without Conveyance of Title. The ML adds an initial 30-day exclusive…
HUD: Innovative “Faircloth-to-RAD” Initiative on Track to Create Nearly 1,850 Affordable Housing Units
Rental Assistance Demonstration (RAD) unlocks the creation of deeply affordable housing in support of Administration objectives to increase rental housing supply for some of the nation’s most vulnerable populations This week, the U.S. Department of Housing and Urban Development (HUD) commemorated the first anniversary of the creation of the “Faircloth-to-RAD” initiative, a new pathway that…