Press Release
☷Fact Sheet Under the Leadership of Secretary Marcia L Fudge the U S Department of Housing and Urban Development has Delivered for Black People
U.S. Department of Housing and Urban Development ( By Press Release office)
Feb 04,2024
| 1| 1
In the past three years , around 250 , 000 Black homeowners have used FHA mortgages to buy a home . FHA has made changes to their policies to make it fairer for people with student loan debt and those who have a good track record of rental payments . As a result , more Black borrowers have been approved for FHA mortgages compared to the overall market . Since the start of the pandemic , HUD has helped 160 , 000 Black homeowners avoid foreclosure . HUD has also made efforts to provide housing counseling and connect Black families to resources for homeownership . They have allocated funds for research on improving access to mortgage financing and homeownership . Additionally , HUD has supported Black - owned small businesses and developers by providing opportunities and funding . Lastly , HUD continues to invest in Historically Black Colleges and Universities . HUD gave over $10 million in funding to HBCUs across the country for research on housing and community development . The research focuses on building wealth for individuals and communities , making housing more affordable and stable , improving climate resilience , and increasing economic opportunities . HUD is committed to fighting racial discrimination in housing and is working with real estate agents , appraisers , states , and communities to eliminate bias in the appraisal process . They are also working on a final rule to address disparities in housing needs for protected classes . In 2023 , HUD granted $30 million to fair housing organizations to combat housing discrimination . They have expanded rental assistance and increased the number of housing choice vouchers for low - income individuals . Over the past three years , HUD has awarded approximately 120 , 000 new housing vouchers , the largest increase in 20 years . In 2023 , 48 percent of voucher holders were Black . HUD ' s Emergency Housing Vouchers , the first - ever federal housing voucher program for homelessness , is helping to address racial inequities . Around 37 percent of people experiencing homelessness are Black , and more than 46 percent of households assisted by Emergency Housing Vouchers are Black . HUD has also implemented policies to make vouchers easier to use and more widely accepted . They are providing second chances in HUD - assisted housing for individuals with prior criminal records . Secretary Fudge ordered a review of HUD regulations to reduce unnecessary and discriminatory denials and exclusions for individuals with past criminal records who do not pose a risk to their communities . As a result , HUD will amend regulations to ensure fair and individualized reviews for applicants with criminal records . HUD and the State of Louisiana have agreed to release 3 , 300 Louisianans from repayment obligations related to the ' Road Home ' program , which was created after Hurricane Katrina . The program was closed in February 2023 , and unpaid judgments and payment plans against homeowners were released in April 2023 . The ‘Road Home’ program ending was a big deal for families like the Saunders . They ' ve lived in New Orleans for 30 years and were worried about their future because they owed $30 , 000 from the program . They used the money for housing repairs after Katrina . But now , the State cleared their debt , so they don ' t owe anything anymore . The Saunders are excited because they can now send their nephew to college in the Fall .
PLAY the NEWS
* May be useful for visually impaired persons .
Press release information:
Direct link to press release:
Click here .
