WASHINGTON – U.S. Housing and Urban Development Secretary Shaun Donovan announced today $60 million in housing counseling and counseling training grants to nearly 500 national, state, and local agencies.
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WASHINGTON, DC – Treasury Secretary Tim Geithner and HUD Secretary Shaun Donovan called on Congress to approve three important measures to improve housing and the housing market for Americans: extension of the First Time Homebuyers Tax Credit for a limited period, extension of higher loan limits for home mortgages, and secure funding for the Housing Trust Fund.
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WASHINGTON – As part of its comprehensive plan to stabilize the U.S. housing market, the Obama Administration today announced a new initiative for state and local housing finance agencies (HFAs) that will help support low mortgage rates and expand resources for low and middle income borrowers to purchase or rent homes that are affordable over the long term. Following up on the intent to support HFAs first outlined in February under the Homeowner Affordability and Stability Plan, the Administration’s initiative has two parts: a new bond purchase program to support new lending by HFAs and a temporary credit and liquidity program to improve the access of HFAs to liquidity for outstanding HFA bonds.
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The Treasury Department’s Frequently Asked Questions on the Tax Credit Exchange Program.
BOSTON – The Community Preservation Act (CPA) trust fund payment distributed this week to 135 eligible municipalities was the lowest since the program began, according to data from the state Department of Revenue (DOR). The FY10 base payment of a 34.8 percent match to locally raised funds is over 65 percent lower than the dollar for dollar match received in the first six years of the CPA program. DOR estimates that the distribution will fall again next fiscal year, likely as low as 28 percent for many communities.
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For more detail on the budget cuts, please click here.
Click here for MACDC’s budget analysis.