HFA News

Gov. Steve Beshear, along with Kentucky Housing Corporation (KHC) Chief Executive Officer Richard L. McQuady, today announced that Kentucky will share $2 billion in federal assistance to help unemployed and underemployed homeowners pay their mortgages as they seek work, along with 16 other states and the District of Columbia. Kentucky is eligible for this assistance as a result of having sustained unemployment rates at or above the national average during the last 12 months.

Officials at the US Department of the Treasury announced today that an additional $58 million to help the state’s “hardest hit” homeowners. This announcement follows last week’s approval of the South Carolina State Housing Finance and Development Authority’s (SC State Housing) proposal for administration and distribution of $138 million in foreclosure mitigation funds.

The California Housing Finance Agency (CalHFA) announced today that it has closed its first bond issuance under a new bond program to support housing opportunities for California families.

The Obama Administration today announced that the Ohio Housing Finance Agency (OHFA) will receive an additional $148 million through the Housing Finance Agency (HFA) Innovation Fund for the Hardest-Hit Housing Markets (the Hardest-Hit Fund). Ohio is one of 17 states and the District of Columbia that will share $2 billion in new federal assistance to help homeowners. The funding is being allocated to states that have experienced sustained unemployment rates at or above the national average over the last 12 months.

Maryland Department of Housing and Community Development (DHCD) Secretary Raymond A. Skinner announced today that statewide its Maryland Mortgage Program (MMP) interest rate will be lowered to 4.25 percent and the base amount for its Downpayment and Settlement Expense Loan Program (DSELP) will be increased from $3,500 to $5,000 for borrowers who apply and are approved for an MMP loan.

The Texas Department of Housing and Community Affairs (TDHCA) today announced that it has awarded a federal grant to the Harris County Housing Authority designed to enhance homeownership opportunities, helping stop declining home values and keeping the community vibrant. TDHCA awarded $802,792 to the housing authority, which will use the funds to purchase eight homes directly from the U.S. Department of Housing and Urban Development (HUD), which is offering the homes at a substantial discount from their appraised value. The housing authority will then rehabilitate and re-sell the homes to eligible low income households.

Three housing counseling agencies have been chosen to implement the pilot Florida Hardest-Hit program being offered in Lee County - $23 million is available to help about 1,200 homeowners.

The Ohio Preservation Compact (OPC), a statewide partnership created to address the rising demand for affordable rental housing in the state of Ohio, launched a website at www.ohiopreservationcompact.org today. OPC also announced the creation of the $18 million Ohio Preservation Loan Fund (Loan Fund) that will provide flexible capital for predevelopment, acquisition, and bridge financing for preservation projects throughout Ohio. The website and loan fund were made possible by a $5 million award from the John D. and Catherine T. MacArthur Foundation (MacArthur Foundation).