These days, many citizens dream of owning their own home, but too many are unable to accomplish this goal due to low wages, credit problems and high minimum down payment costs. As a result, many turn to low initial cost loans like ARMs, which can be extremely risky. The rising national foreclosure rate indicates that [...]
As June, President Bush
Today, HUD granted the Chicago Housing Authority a 70$ million bond to help them refinance and allocate the funding necessary to repair and redevelop public housing all over the city. The bond allowed the Chicago Housing Authority (CHA) to refinance existing bond loans, which ended up significantly decreasing their debt and freeing up money to [...]
In response to recent claims of mortgage fraud running rampant in the southeastern United States, HUD has sponsored a symposium on how to recognize and avoid falling victim to this crime. The day-long educational conference is scheduled to be held in numerous areas throughout North and South Carolina, as well as Georgia and Florida.
Mortgage fraud [...]
This morning, HUD announced that 1,000 public housing units will be opened in post-Katrina New Orleans this summer. Many of the city’s public housing units are scheduled for demolition and replacement, but 1,000 residences in the least damaged areas will be repaired and habitable by August.
This will come as good news to many of the [...]
Despite an IRS ruling that is removing the type of assistance programs that provide for at least one in three FHA mortgages, HUD is trying to help more needy families be able to own homes through underwriting and sponsoring loans themlselves.
Housing and Urban Development Secretary Alphonso Jackson announced that Idaho will receive $16,749,676 from HUD. The money will be used to
The U.S. Housing and Urban Development expressed Tuesday that the cost of housing would not change if Congress created a new regulator for Fannie Mae and Freddie Mac, as has been the talk around Washington D.C. HUD also expressed that the leaders of these two government-sponsored home loan enterprises are doing their best to help.
“HUD [...]
