Housing Assistance/Funding Stories

Republican Martinez, Democrat Cisneros Agree on ‘The Glue’

Former HUD honchos Mel Martinez, a Republican, and Henry Cisneros, a Democrat, describe an affordable place to live as “the glue” that holds together the necessary services and supports for enabling America’s growing senior population to age with dignity and comfort.

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Overhaul of Reverse Mortgage Program Goes Live

Stricter underwriting requirements have been added in the form of a financial assessment evaluating whether the borrower has the capacity and willingness to meet the loan’s obligations.

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Colorado Senior Living Community Gets $17 Million Mortgage

Atlanta-based seniors housing and healthcare financial services provider Grandbridge Real Estate Capital has closed a $17 million first mortgage loan secured by Arvada Estates Senior Living in Arvada, CO.

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House Bill Cuts Assistance to Low-Income Renters

The House Appropriations Committee approved a fiscal year 2015 funding bill this week for the Department of Housing & Urban Development (HUD) that makes disproportionately deep cuts in housing assistance for low-income families, including the elderly.

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Seniors’ Home Equity Increases for Seventh Straight Quarter

Americans 62-years old and older now have more equity in their homes than at any time since mid-2008, according to new data released by the National Reverse Mortgage Lenders Association.

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HUD Changes Policy on Reverse Mortgages

The policy change will not help non-borrowing spouses who are already facing foreclosure and have been fighting HUD in court to keep their homes. A policy letter sent to lenders says the department has no alternatives to foreclosures already in the works.

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HUD Softens Application Criteria for Assisted Housing

The change will affect millions of low-income elderly who reside in public and assisted housing.

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GOP Members Slash & Burn HUD Budget Blueprint

House Financial Service Committee GOP leaders give credence to the political adage “dead on arrival” when the lawmakers unveil the panel’s FY 2015 “Budget Views & Estimates” in advance of a reworking of the Obama administration’s budget request. The document portends bad news for many housing programs serving low-income seniors.

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LIHTC: Success Stories and Suggestions for Changes

The Bipartisan Policy Committee holds a forum on the 27th anniversary of the federal Low Income Housing Tax Credit. The LIHTC has long been considered a valuable tool in financing low-income housing. In recent years, major founders such as the Kresge Foundation have used LIHTC as key part of an overall housing financing strategy.

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$28 Million-Plus to Promote Self-Sufficiency for Public Housing Residents

The funding will also link the elderly and people with disabilities with supportive services that allow them to maintain independent living and age-in-place.

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Aging News Alert

Housing Assistance/Funding