FEDERAL UPDATE

Housing Counseling Program New Certification Requirements

On September 13, 2013 HUD published a proposed rule to revise its Housing Counseling Program regulations to implement the housing counseling requirements of the  Dodd-Frank Wall Street Reform and Consumer Protection Act. See More Information to view Arizona Housing Alliance's comments to the proposed rule. 


 Housing Finance Reform 

The Center for American Progress has developed 4 fact sheets that explain the federal government's role in housing finance, recommend core principles for reform, and provide basic information on financing for affordable rental housing and the To-Be-Announced, or TBA, Market.


 

Federal Budget

The ability of housing programs to serve low income people in need depends on federal appropriations. We monitor the federal budget process and advocate for the highest possible appropriations for HUD and USDA Rural Housing programs, while assuring sufficient funding to preserve all existing low income housing resources and prevent loss of units affordable to, or rental assistance for, extremely low income households.



National Housing Trust Fund

The National Housing Trust Fund was established as a provision of the Housing and Economic Recovery Act of 2008, which was signed into law by President George W. Bush. The passage of National Housing Trust Fund legislation is a major victory for low income housing advocates and the lowest income people in our country with the most serious needs. The NHTF Campaign is now focused on securing permanent funding for the program.

The NHTF will, once capitalized, provide communities with funds to build, preserve, and rehabilitate rental homes that are affordable for extremely and very low income households. 


United for Home Campaign

The United for Home Campaign proposes placing a cap on the maximum mortgage to receive a tax break at $500,000 and converting the current deduction to a 15% non-refundable credit. This will ensure that tax breaks are going to people who need them and not subsidizing million-dollar homes. This will save the federal government billions of dollars a year, which could be used to create jobs and reduce homelessness by funding programs that can build and rehabilitate housing that lower income people can afford. Capitalizing the National Housing Trust Fund with savings from mortgage interest tax reform will do just that.


Bipartisan Policy Center Housing Commission 

Housing America's Future: New Directions for National Policy is the culmination of a 16-month examination of some of the key issues in housing. The report provides a blueprint for an entirely new system of housing finance for both the ownership and rental markets.


   

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