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Home purchase or rehabilitation financing assistance – In this type of activity, the HOME program may provide a down payment for the purchase of a housing unit to a financial institution, thereby reducing the monthly mortgage payment of the loan balance for a low-income family that otherwise could not afford the monthly payment. The down ...
The Home Affordable Modification Program (HAMP) is a government program introduced in 2009 to respond to the subprime mortgage crisis.HAMP [10] is part of the Making Home Affordable program (MHA), [11] established in concert with the Hardest Hit Fund program (HHF) [12] under the Troubled Asset Relief Program (TARP), a part of the Emergency Economic Stabilization Act of 2008. [13]
Innovations for Poverty Action (IPA) is an American non-profit research and policy organization founded in 2002 by economist Dean Karlan. [1] Since its foundation, IPA has worked with over 400 leading academics to conduct over 900 evaluations in 52 countries. [ 2 ]
The voucher program emerged in the 1970s, when the government was demolishing public housing complexes that had suffered decades of neglect and mismanagement under its watch.
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
Model Cities logo. The Model Cities Program was an element of U.S. President Lyndon Johnson's Great Society and War on Poverty.The concept was presented by labor leader Walter Reuther to President Johnson in an off-the-record White House meeting on May 20, 1965. [1]
The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
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