For just the third time in 39 years, Congress will not fund local housing agencies so that they can renew all current vouchers. A $938 million cut in the voucher program translates to a 6% shortfall below what is needed to maintain assistance to the same number of families in 2013 as last year, The Nation reported.
What sequestration means for low-income homeowners
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The Detroit-based lender reported a GAAP net income of $291 million from January to March, its highest profit level in two years.