• Top News Stories

July News

 

Factory Built Homes Appeal to Millenials, Boomers Across America

Source: 83 Degrees/Jan Hollingsworth

"Today's HUD-code manufactured homes are as well-built, or even better-built, than a comparable site-built home -- and cost half the price, according to Bill Matchneer, a Senior Attorney at Bradley Arant Boult Cummings law firm in Pittsburgh who once managed HUD's manufactured housing program. A brand new entry level "shade and shelter" model -- with central air and all the comforts of home -- can be had for as little as $30,000, while larger, multi-section models with vaulted ceilings, fireplaces, walk-in showers and spa tubs run $60,000 or more." More...

 


More Older Americans are Being Buried by Housing Debt

Source: Miami Herald/Paul Wiseman

"Of all the financial threats facing Americans of retirement age – outliving savings, falling for scams, paying for long-term care – housing isn’t supposed to be one. But after a home-price collapse, the worst recession since the 1930s and some calamitous decisions to turn homes into cash machines, millions of them are straining to make house payments. The consequences can be severe. Retirees who use retirement money to pay housing costs can face disaster if their health deteriorates or their savings run short. They’re more likely to need help from the government, charities or their children. Or they must keep working deep into retirement." More...

 


Best Practices: A Supportive Home for Youth Transitioning Out of Foster Care

Reference: Corporation for Supportive Housing (CSH)

The Courtyard, in Fort Wayne, Indiana, is an innovative facility for youth transitioning out of foster care (ages 18-25). The development provides young adults who are homeless, or at risk of being homeless, with affordable housing and 24/7 supportive services. Residents also have the benefit of education and job development programs, a fitness center, an art lab, a community garden and a training kitchen. The Courtyard’s mission statement includes, “Through these efforts, we support the dignity, independence and self-sufficiency of tenants, and respect the tenants’ rights to involvement in their supportive housing community.” Funding was made possible through several federal programs including Low Income Housing Tax Credits (LIHTC), Community Development Block Grant Disaster funds, the HOME Investment Partnerships Program, and the Neighborhood Stabilization Program (NSP) Program and was supplemented by financing from the Federal Home Loan Bank of Indianapolis. More...

 


Land Trusts Help Buyers Squeezed by Higher Housing Costs

Source: SunSentinel/Paul Owers

Shemerria Burgess remembers looking at two kinds of homes: Those that clearly were out of her price range and those that needed so much work that she couldn't afford the repairs. "If I had gotten one of those houses," the 33-year-old mother of two says now, "I wouldn't have been able to put food in the fridge." Instead, Burgess, a health care analyst, turned to the Community Land Trust of Palm Beach County and bought a move-in-ready, three-bedroom home with a big back yard in Palm Springs for $110,500. The nonprofit organization, one of 10 across the state, helps low- and middle-income buyers find places they can afford even as housing costs increase across the region.  More...

 


HUD Issues Guidance on Multifamily Assisted and Insured Housing Based on Equal Access to Housing Rule

Source: HUD Press Release

As part of the White House Conference on Aging today, the U.S. Department of Housing and Urban Development (HUD) issued guidance to better serve and help avoid discrimination to LGBT Americans seeking HUD-assisted or HUD-insured housing. The guidance will help clarify the Equal Access to Housing in HUD Programs Regardless of Sexual Orientation or Gender Identity Rule (Equal Access Rule), which was originally published in 2012. The Equal Access Rule ensures that housing across HUD programs is open to all eligible individuals regardless of actual or perceived sexual orientation, gender identity or marital status, including Section 202 Supportive Housing for the Elderly. More...

 


Promising Approaches to Using Affordable Housing in Health Care

Source: National Housing Conference (NHC)/Janet Viveiros

NHC’s latest work on the connection between housing and health is three profiles of promising approaches to using health Medicaid funds for housing related needs of low-income individuals and families:  Addressing Housing as a Health Care Treatment, Using Health Care, Savings to Construct Supportive Housing in New York, and Collaborating with Housing Quality Stakeholders to Reduce Home Health Risks. The programs and housing development highlighted in these profiles are leading the way in breaking through the silos of housing and health care. They offer examples of new approaches to improving the health of low-income individuals by ensuring they have safe, stable and affordable housing. More...

 


Black Knight: 6.5M borrowers stand to benefit from refi/Half a million could save $500 a month

Source: Housing Wire/Trey Garrison

Between traditional and HARP programs, approximately 6.5 million borrowers could likely both qualify for and benefit from refinancing, according to the latest Black Knight Financial Services Mortgage MonitorReport. Black Knight Data & Analytics Senior Vice President Ben Graboske explained that these refinance opportunities could result in significant monthly savings for qualifying borrowers. “By looking at current interest rates on existing 30-year mortgages and applying broad-based underwriting criteria, we found that approximately 6.1 million borrowers make good candidates for traditional refinancing,” said Graboske. “An additional 450,000 meet HARP-eligibility guidelines. For both groups, the potential monthly savings could be substantial. Some 500,000 American homeowners with a mortgage could save $500 or more each month by refinancing at today’s rates. More...

 


 

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