Ginnie Mae launches 5 new initiatives to increase mortgage lending

Ginnie Mae launches 5 new initiatives to increase mortgage lending

HUD secretary warns American Dream remains out of reach

Monday Morning Cup of Coffee: Judge deals major blow to investors in GSE lawsuit

Fed mortgage stability monitoring nothing more than a myth?

This chart proves mortgage credit availability isn’t improving

Isn't get worse, either
W S

HUD grants give $749 million in affordable housing for elderly, disabled

/ Print / Reprints /
| Share More
/ Text Size+
Two separate grants that total $749 million will go toward affordable housing for low-income seniors and persons with disabilities, according to a release Wednesday from the Department of Housing and Urban Development. Funds will construct or rehab more than 189 developments and go toward rental assistance. More than 4,800 will live in the housing once completed. (Click here to see a full list.) Eligible residents must be "very low income," meaning household incomes less than 50% of the median for the area. "Recent bipartisan changes to these two supportive housing programs will allow us to better serve some of our more vulnerable populations who would otherwise be struggling to find a safe and decent home of their own," HUD Secretary Shaun Donovan said in the release. The grants under HUD's sections 202 and 811 follow the inaction earlier this year of two bills, the Frank Melville Supportive Housing Investment Act and the Section 202 Supportive Housing for the Elderly Act. Write to Andrew Scoggin. Follow him on Twitter @ascoggin.

Recent Articles by Andrew Scoggin

Comments powered by Disqus