HUD Partners with CMHA for Aid to Seniors and Disabled Residents

Recently, HUD partnered with the Cuyahoga Metropolitan Housing Authority (CMHA) in Cleveland in order to create 482 accessible units for residents with disabilities, as well as senior citizens. This measure was taken in accordance with the Americans with Disabilities Act, which is now in its 18th year. The affordable housing will make possible greater opportunities for those residents with disabilities, as well as fulfilling the duties and purpose of that Act, since eligible residents will be given priority for these housing units.

To read the complete details, please visit: http://www.hud.gov/news/release.cfm?content=pr08-112.cfm

Freddie Mac Make Efforts against Foreclosure

In order to keep at-risk borrowers from foreclosure Freddie Mac is taking a number of preventative measures, including doubling the amount of money it pays loan service professionals for each successful mortgage transaction. In addition, the mortgage finance company is granting larger periods of time for states with fast foreclosure processes to work out negotiations, as well as supporting the action of door-to-door outreach by loan servicers, among other measures. All new policies by Freddie Mac will go into effect August 1.

To read the complete story, please visit: http://money.cnn.com/2008/07/31/real_estate/freddie_foreclosure.ap/index.htm

HUD Reports Decline in Homeless Population

A recent report from HUD reflects a decrease of 32,000 chronichally homeless persons during the last year. This number is in direct correlation with 15 percent annual decrease since 2005 in those living both on the streets and in emergency shelters. According to HUD, a chronically homeless person is defined as one who is disabled and has been without a home for more than one year, or who has experienced a minimum of four occurrences of homelessness within the last three years.

For more details on this report, please visit: http://www.hud.gov/news/release.cfm?content=pr08-113.cfm