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Senators Questioning How Real Estate Owned (REO) Properties will be Managed to Stabilize Housing

A group of senators are asking questions about the Request for Information (RFI) issued in August by the Federal Housing Finance Agency (FHFA), the Department of Housing and Urban Development (HUD) and the Department of the Treasury regarding proposals on managing real estate owned (REO) ... read more...

Termination of the Emergency Homeowners Loan Program

The Emergency Homeowners Loan Program (EHLP), administered by the Department of Housing and Urban Development (HUD) to help homeowners avoid foreclosure by providing a forgivable loan of up to $50,000, ended on September 30, 2011. The $1 billion federal program authorized by the Dodd-Frank Wall ... read more...

Rental Policy Working Group Seeks Comments on Rental Alignment Proposal

The Rental Policy Working Group, established by the White House’s Domestic Policy Council (DPC) to align rental housing programs administered by the Department of Housing and Urban Development (HUD), the Department of Agriculture and the Department of the Treasury, is seeking comments on its ... read more...

The U.S. Department of Housing and Urban Development (HUD) Provides Mortgage Payment Relief to Eligible Homeowners with the Emergency Homeowners’ Loan Program (EHLP)

The Emergency Homeowners’ Loan Program (EHLP) will provide mortgage relief to homeowners that have been directly influenced by unfavorable economic conditions.  Congress provided $1 billion to the U.S. Department of Housing and Urban Development (HUD) to implement the program as part of the ... read more...

June Council on Housing (COH) Public Session

The monthly Council on Housing (COH) meeting was held last week at the Huling Cove community building in Lewes, Delaware.  (Agenda; Meeting minutes of 4/13/2011 session) The Loan Review Committee recommended the following Housing Development Fund (HDF) requests: —Wexford Village Housing ... read more...

“A Catalyst for Economic Growth” from Novogradac’s 2011 Affordable Housing Conference in New Orleans

I am posting from Novogradac’s 2011 Affordable Housing and Low Income Housing Tax Credit (LIHTC) Conference in New Orleans.  The conference is happening in the wake of significant proposed legislation that could impact available financing for affordable housing developments and recent ... read more...

Shortage of Affordable Rental Housing

The need for affordable rental housing is rising. The foreclosure crisis converted many homeowners into renters and the recession lowered the amount of income that could be spent on such housing. The National Low Income Housing Coalition (NLIHC) released its annual Out of Reach report on the ... read more...

Federal Regulators Strike Deal with 14 Mortgage Servicers Involved in Foreclosure Abuse

18 April, 2011 by George Danneman in Uncategorized
Mortgage servicers came under the microscope last fall when it was revealed that they were foreclosing on homeowners through faulty affidavits. This started a coordinated investigation by the 50 state attorneys generals along with the Office of the Comptroller of the Currency (OCC), the Office ... read more...

House Votes to Eliminate the Neighborhood Stabilization Program (NSP)

On March 16, the House passed H.R. 861, Neighborhood Stabilization Program (NSP) Termination Act, introduced by Rep. Gary Miller (R-CA) which would terminate funding for the Department of Housing and Urban Development’s (HUD) Neighborhood Stabilization Program (NSP).  The Neighborhood ... read more...

HUD Issues Notice of Funding Availability (NOFA) for FY2010 Section 202 Supportive Housing for the Elderly Program

The Department of Housing and Urban Development (HUD) provided details on accessing approximately $371 million of funding for Section 202 Supportive Housing for the Elderly Program, which is authorized by section 202 of the Housing Act of 1959. Section 202 Supportive Housing for the Elderly ... read more...