Donovan: Sequestration could devastate Fed housing programs

Disciples: The World War II Missions of the CIA Directors Who Fought for Wild Bill Donovan Sequestration will force FHA to hit brakes on housing recovery – Department of Housing. programs such as foreclosure counseling, according to HUD Secretary Shaun Donovan. If FHA lending drops by the same rate as HUD’s budget, it could shave about 2 percent off U.

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The federal Section 8 housing assistance program has had five consecutive years of inadequate and declining program funding. Things are about to get worse. A March 8, 2013 letter from the US Department of Housing and Urban Development on the website states: "As you are likely aware, due to the inability of Congress to pass legislation on balanced deficit reduction to avoid.

The Federal Housing Finance Agency. taking a different route. At NASA, sequestration could delay American flights taking astronauts to the International Space Station. But since the end of the.

The particular issue with Section 8 vouchers, which are awarded to qualified applicants to pay parts of their rents at private rental units, is that voucher awards are calculated based on the.

Sequestration Cuts Devastate Low-Income Housing Programs About This Image *HUD defines households with "worst-case housing needs" as renters who have incomes below half of the local median, receive no housing assistance, and pay more than half of their income for rent and utilities or live in severely substandard housing.

Sequestration would also cut $212 million from HUD’s HOME and Community Development Block Grant programs, Donovan said, adding that communities receiving the funds could lose nearly half a billion dollars in private funding because they would no longer be able to leverage federal dollars.

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The March 1 sequestration would have devastating effects on homelessness and on other vulnerable groups that HUD works with on housing needs across the country. In particular: About 125,000 individuals and families, including elderly and disabled individuals, could lose assistance provided through the Housing choice voucher (hcv) program and be at

These housing protections are crucial and are often the primary pathways out of violence for low-income women who lack economic independence from their abusers. Sequestration will devastate. sexual.

The bank that rejects the most mortgages But this tactic rarely works. Mortgage brokers and lenders always run a credit check, and any debt – including car loans, students loans, medical bills, banks and old credit cards – will be.