Skip to main content

HUD aims to stamp out homelessness in the U.S.

NationalMortgageProfessional.com
Jul 10, 2009

U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan has awarded $1.2 billion to over 400 communities across the nation to rapidly re-house families who fall into homelessness, or prevent them from becoming homeless in the first place. The funding is provided through the American Recovery and Reinvestment Act of 2009 to help persons and families facing a sudden financial crisis that could lead to homelessness. To view the list of grantees receiving funding under this round of grants, visit HUD's Recovery Act website. HUD's new Homeless Prevention and Rapid Re-housing Program (HPRP) provides a total of $1.5 billion for communities to provide short- and medium-term rental assistance and services to either prevent individuals and families from becoming homeless or help those who are experiencing homelessness to be quickly re-housed and stabilized. Plans for the remaining grants under this program are still being approved and will be announced in the coming weeks as well. "This is money that will not only spare families the hardships of homelessness, but will save taxpayers significant money in the long run," said Donovan. "Often times, a little bit of financial assistance can make all the difference between a stable home and being forced to live in a shelter or on the streets." Grants provided under HPRP are not intended to provide long-term support for individuals and families, nor will they afford mortgage assistance to homeowners facing foreclosure. Rather, HPRP offers a variety of short- and medium-term financial assistance to those who would otherwise become homeless, many due to sudden economic crisis. This can include short-term rental assistance (up to three months), medium-term rental assistance (up to 18 months), security deposits, utility deposits, utility payments, moving cost assistance, and hotel vouchers. Payments will not be made directly to households, but only to third parties, such as landlords or utility companies. The program also provides assistance to rapidly re-house persons who are homeless and likely to remain stably housed, whether subsidized or unsubsidized, once the HPRP assistance concludes. HUD is committed to implementing Recovery Act investments swiftly and effectively as they generate tens of thousands of jobs, modernize homes to make them energy efficient, and help the families and communities hardest hit by the economic crisis. The Recovery Act includes $13.61 billion for projects and programs administered by HUD, nearly 75 percent of which was allocated to state and local recipients only eight days after President Obama signed the Act into law. The HPRP funding was among the 75 percent that was allocated during that time. Now, as grant recipients' spending plans are approved, HUD is officially making these funds available to spend. The remaining 25 percent of HUD Recovery Act funds is being awarded through a competitive process. In addition, Secretary Donovan and the Department are committed to providing the highest level of transparency possible as Recovery Act funds are administered. It is vitally important that the American people are fully aware of how their tax dollars are being spent and can hold their federal leaders accountable. Every dollar of Recovery Act funds HUD spends can be reviewed and tracked at HUD's Recovery Act website. The full text of HUD's funding notices and tracking of future performance of these grants is also available at HUD's Recovery Act Web site. For more information, visit www.hud.gov.
Published
Jul 10, 2009
'A Long Road To Normal'

Nominated again to lead The Fed, Powell tells Senate committee to expect three rate hikes, but 'if we have to raise interest rates more over time, we will.'

Regulation and Compliance
Jan 11, 2022
CFPB: Complaint Response Worsens At Big 3 Credit Bureaus

Report claims Equifax, Experian, and TransUnion routinely failed to fully respond to consumers with errors.

Regulation and Compliance
Jan 10, 2022
The Fed Names Chairs, Deputy Chairs For 12 Reserve Banks

In recent years, the Federal Reserve System has worked to increase the overall diversity of the Reserve Bank and branch boards of directors and continues to build on those efforts.

Regulation and Compliance
Jan 06, 2022
The Fed: Rate Hike Likely Coming in June

Federal Open Market Committee's December minutes reveal discussion of first hike in federal funds rate in 2Q of 2022, as well as of ending asset purchases by March.

Regulation and Compliance
Jan 05, 2022
AARMR No Protection For Savanah Scares

Conference provides opportunity for regulators to interact, discuss common topics

Regulation and Compliance
Jan 04, 2022
McCargo Sworn In As Ginnie Mae President

Former HUD official becomes the first female to lead the Government National Mortgage Association.

Regulation and Compliance
Jan 04, 2022