HUD Dedicates Nearly $700 Million To Help Protect Low-Income Americans

May 05, 2020

Photo credit: Getty Images/James Andrews

U.S. Department of Housing & Urban Development Secretary Ben Carson has announced that HUD will allocate $685 million in COVID-19 relief funding to help low-income Americans residing in public housing. The funding, made available by the CARES Act legislation President Trump signed into law on March 27, 2020, will be awarded to Public Housing Authorities (PHAs) across the Nation.

“As a result of President Trump’s strong leadership, we were able to secure necessary funding through the CARES Act to help keep Americans living in public housing safe through these unprecedented times,” said Secretary Carson. “HUD has worked hard to ensure that these funds will reach Public Housing Authorities quickly and efficiently, so they are well equipped to protect their residents and staff as we all work together as a Nation to combat this invisible enemy.”

These funds will be allocated through the Public Housing Operating Fund and can be used by PHAs.

In addition to the funding, HUD is announcing that PHAs may use Operating Funds and Capital Funds provided through prior Acts, for eligible Operating Fund and Capital Fund activities, or for coronavirus purposes.

After President Trump signed the CARES Act into law, HUD acted immediately to allocate its first wave of funding, over $3 billion to assist communities and non-profits, help protect the homeless and Americans with compromised immune systems, and assist Tribal communities in their COVID-19 response efforts.

About the author

NationalMortgageProfessional.com

Link copied

Published

May 05, 2020

Analysis and Data

It's A Buyers' Market In Texas And Florida!!!

Redfin says sellers are cutting their asking prices in the two southern states.

Two states in particular are experiencing a ballooning supply of homes for sale this spring, paired with modest price cuts to entice buyers. A new report from Redfin indicates that housing supply is surging in Florida and Texas, and sellers are cutting their asking prices...

Analysis and Data

Pending Home Sales Climbed 3.4% In March

National Association of Realtors reports gains in Northeast, South and West, with a slight drop in the Midwest

Homes under contract are rising at a cautiously hopeful pace this spring. The National Association of Realtors’ Pending home Sales Index climbed 3.4% in March, increasing to 78.2. Year-over-year, pending transactions were up 0.1%. “March's Pending Home Sales Index – at...