The program seeks to facilitate the sale of affordable housing back to government, organizations
The Department of Housing and Urban Development (HUD) proposed a new rule to make its delinquent mortgage program permanent. The department first introduced this program in 2002, allowing the department to quickly resell delinquent mortgage loans back to owner-occupants, nonprofit organizations, and government agencies. This shortens the process required to make these homes available again to those seeking an affordable home.
“Every day, the Biden-Harris Administration and HUD are looking for new ways to expand the availability of affordable homes for families to purchase or rent,” said HUD Acting Secretary Adrianne Todman. “This proposed rule will help struggling homeowners, stabilize neighborhoods, and make more affordable homes available for the people we serve.”
As the Lord Leads, Pray with Us…
- For Acting Secretary Todman to be prudent as she oversees the department.
- For HUD officials as they seek to facilitate the availability of affordable homes on the market.
- That members of the Biden-Harris administration seek God’s guidance as they determine priorities for the nation.
Sources: Department of Housing and Urban Development
