HUD: FHA Proposes Innovative Approach to Keep Struggling Homeowners in their Homes
In consideration of steeply increased interest rates, FHA seeks input on new approach to help its borrowers Today, the Federal Housing Administration (FHA) posted for feedback a proposal for a new home retention option to help struggling homeowners meet their mortgage obligations. The new option, called the Payment Supplement Partial Claim, would allow mortgage servicers to use…
HUD: $688,000 in Funding Provided for Public Housing Authorities to Help Youth Aging Out of Foster Care
Funding Deployed During National Foster Care Month 2023 Today, as the country marks National Foster Care Month, the U.S. Department of Housing and Urban Development (HUD) announced that it will make available $688 thousand to 12 public housing authorities (PHAs) in 9 states, including California, Oregon, Texas, West Virginia, and Wisconsin. These PHAs will receive…
HUD and Census Bureau: New Residential Sales Report for April 2023 Released
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for April 2023: New Home SalesSales of new single‐family houses in April 2023 were at a seasonally adjusted annual rate of 683,000, according to estimates released jointly today by the U.S. Census Bureau…
HUD: $95.5 Million Awarded for Affordable Housing and Community Development Activities in Native American Communities
Funds support development and operation of low-income housing The U.S. Department of Housing and Urban Development (HUD) today awarded $95 million to 55 communities through the Indian Community Development Block Grant (ICDBG) Program. Grant funds may be used for infrastructure, community facilities, housing rehabilitation, economic development, and more to support Native American and Alaskan Native…
HUD: FHA Finalizes Policies to Expedite Claims Processing for Home Equity Conversion Mortgages
New policies are expected to shorten the timeframe for mortgagees to receive Home Equity Conversion Mortgage assignment funds. Today, the Federal Housing Administration (FHA) is announcing new policies that will allow for faster payment of funds to mortgagees when they assign a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, to HUD. The changes…
HUD: New Details Announced for 2023 Innovative Housing Showcase
General public invited to visit the Showcase on the National Mall June 9 – 11 U.S. Department of Housing and Urban Development (HUD) and National Association of Home Builders (NAHB) today announced new details regarding the Innovative Housing Showcase, including the first round of exhibitors. The Showcase will be an open-to-the-public event on the National…
HUD: More Than $22 Million Awarded to Expand Access to Affordable Housing & Homeownership
$12.5 million in Self-Help Homeownership Opportunity (SHOP) Grants; $10 million Rural Capacity Building Grants The U.S. Department of Housing and Urban Development (HUD) today awarded $12 million in grants to support non-profit, self-help housing organizations that enable homeownership opportunities for hard-working, low-income families and individuals. Funded through HUD’s Self-Help Homeownership Opportunity Program (SHOP), the grants awarded…
HUD: More Than $837 Million Announced to Improve Housing Quality and Reduce Energy Costs for Underserved Communities
New funding from Inflation Reduction Act of 2022 and $4 billion in loan commitment authority will make HUD-assisted multifamily housing more energy efficient, cut greenhouse gas emissions, and improve climate resiliency. The U.S. Department of Housing and Urban Development (HUD) today will announce the availability of new funding through the Green and Resilient Retrofit Program (GRRP) to…
HUD: Standards and Inspection Regulations Strengthened for Evaluating Conditions in HUD Assisted and Insured Housing
NSPIRE Final Rule Effective July 1 and October 1 for all HUD Rental Assistance Programs Today, the U.S. Department of Housing and Urban Development (HUD) published the Final Rule for the National Standards for the Physical Inspection of Real Estate (NSPIRE) in the Federal Register. The rule proposes a new approach to defining and assessing…
HUD: $15 Million Awarded to Help Low-Income Seniors Age in Place
Grants will fund health and safety repairs in homes of low-income elderly homeowners The U.S. Department of Housing and Urban Development (HUD) today awarded almost $15 million to 13 nonprofit organizations, in addition to a state government to assist in undertaking comprehensive programs that make safety and functional home modifications and limited repairs to meet…