Wednesday, October 21, 2009

Federal Initiative for State & Local Housing

The Obama Administration has announced a new "Initiative for State and Local Housing Finance Agencies":

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.

Read the press release at HUD.gov.  An interesting project from both the property and the local government angles of land use.

Matt Festa

http://lawprofessors.typepad.com/land_use/2009/10/federal-initiative-for-state-local-housing.html

Housing, Mortgage Crisis, Real Estate Transactions | Permalink

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