Housing Assistance

Analysis: Do Low-Income Home Buyer Programs Help or Hurt?

Posted on by TMN Editor
Homeownership for low-income Americans is a major policy plank for countless political leaders, as well as an intensively studied issue among nonprofit and research organizations. The interest is unsurprising: Getting more people at all income levels into homeownership is broadly seen as a net positive for a nation’s economic and social health.  In recent years, programs hoping to help low-income buyers enter the market have proliferated throughout the lending industry. Targeted loans, favorable rates, and other measures are designed to boost homebuying among those not in the top echelon of earners.  But do those programs work? Many industry leaders seem to believe so. Last week Freddie Mac announced a “multi-billion affordable housing bond program,” one that “provides a 3% down…

Feds Launch COVID19 Housing Assistance Website

Posted on by TMN Editor
The U.S. federal government launched a new website Tuesday designed to provide information and resources to homeowners and renters impacted by the coronavirus pandemic. The site – cfpb.gov/housing – includes resources from the Consumer Financial Protection Bureau, the Federal Housing Finance Agency and the Department of Housing and Urban Development. It includes information about what mortgage relief options homeowners may have, explains how to access mortgage relief or forbearance, details on protection for renters, and tips on avoiding scams during the pandemic. “During these uncertain times, consumers need reliable, fair, and accurate information on the protections and relief options available to them. This joint website achieves this important goal for homeowners and renters, outlining clearly the changes that policymakers are…