Solving the Post-Close Challenge with Intelligent Automation

Join our upcoming webinar as SoftWorks AI CEO and Avanze CEO explore the advances in tech that allow for greater levels of automation and cost reduction, especially in support of post-close and pre-fund review.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

The 100-years-war over real estate commissions

HousingWire plunges down the rabbit hole of residential real estate commissions, uncovering the past, present and future of this wholly unique part of the economy.

How borrower education can make housing more attainable

The current housing market is making it difficult for prospective buyers to afford a home. Housing professionals need to find ways to better meet buyer needs.

Real Estate

HUD allocates $472 million of CARES Act funding for low-income households

Public Housing Authorities will use the money to make sure people have "a decent, safe, and affordable place to call home," Carson said

U.S. Department of Housing and Urban Development Secretary Ben Carson announced Monday the allocation of $472 million to be used for low income families during the coronavirus pandemic. HUD made the funding available to Public Housing Authorities as part of the CARES Act to assist families utilizing Housing Choice Vouchers and Mainstream vouchers.

“This funding will provide additional resources to public housing authorities to make sure people have a decent, safe, and affordable place to call home,” Carson said. “HUD continues to work with our public housing authorities to protect American families from this invisible enemy, including vulnerable residents in the Housing Choice Voucher Program.”

Some of the eligible coronavirus-related activities covered under the funding are relocation of families to health units or other designated units for testing, hospitalization, or quarantine, or transportation to said locations for limited exposure. Funds can also be used for procuring cleaning supplies and services to maintain sanitary HCV units.

Aside from the families themselves, HUD also said funding could be used to retain or increase owner participation in the HCV program, such as incentive or retention costs and costs for providing childcare for the children of PHA staff that would not have otherwise been incurred.

“These new funds are important and will go a long way to help low-income residents secure and retain affordable housing during this unprecedented time,” said Hunter Kurtz, assistant secretary for Public and Indian Housing.

In early July, and prior to the expiration on eviction moratoriums, HUD released an “Eviction Prevention and Stability Toolkit” to encourage PHA and HCV landlords to keep families stably housed and help to mitigate economic hardships due to the coronavirus.

If the house-passed HEROES Act is approved by the senate, $1 billion will be allocated to first-year funding of 100,000 new emergency housing vouchers and $100 billion to assist low-income renters at risk of homelessness avoid eviction. 

Leave a comment

Most Popular Articles

Biden’s $15K first-time homebuyer tax credit now a bill

President Joe Biden called for a $15,000 tax credit for first-time homebuyers, and Congress has answered his call with a bill.

Apr 26, 2021 By

Latest Articles

What a dismal jobs report means for the housing market

April’s U.S. jobs report on Friday was dismal at just 266,000 new jobs, but economists say they’re not worried about the housing or mortgage market. HW+ Premium Content

May 07, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please