Posts Tagged ‘Fannie Mae mortgages’

Promoting Homeownership through HUD’s Section 8 Homeownership Program

Friday, September 19th, 2008

I found an online Word document which addresses HUD’s Section 8 Homeownership Program, which includes people with disabilities. The document is dated October 2003. The following is a copy and paste from the document.

Fannie Mae is committed to working with Public Housing Agencies (PHAs) to finance homeownership for households participating in the U.S. Department of Housing and Urban Development’s Section 8 Homeownership Program. Through our Regional and Partnership Offices, we will partner with PHAs, lenders, and community groups to support efforts to bring the benefits of homeownership to borrowers with Section 8 vouchers, also known as the Housing Assistance Payment (HAP). As part of this initiative, we will place a high priority on working with disability organizations and Community HomeChoiceÔ Coalitions and lenders that serve people with disabilities to increase homeownership opportunities for households with disabled family members.

Working with disability organizations and Community HomeChoice Coalitions to promote homeownership for people with disabilities.

http://www.hhs.gov/od/documents/Section8.doc

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Section 8 Made Simple: 2nd Edition (June 2003) This guidebook contains practical information to assist people with disabilities and the entire disability community to navigate through the Section 8 program more successfully. This guidebook is available online only.

I wish there was an updated version available somewhere online.

The following is a link to this on guidebook on the Technical Assistance Collaborative website.

How The Section 8 Program Is Administered

http://www.tacinc.org/Docs/HH/Sect8_2ndEd.pdf

* I checked into HUD’s Section 8 Homeownership in my area, but there isn’t a homeownership program. There is HUD’s Section 8 Rental Assistance, but there is a waiting list to qualify which takes 3 years. There doesn’t seem to be a set aside for disabled persons in either HUD program. Apparently, government home ownership assistance for disabled persons are placed with non-disabled low income persons which is an overburdened program.

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I found another online Word document which addresses Fannie Mae mortgage products and initiatives to serve more people with disabilities.

The following is a copy and paste from the document.

Owning a Home May Be an Option for You

The desire and dream to own a home is universal. People from all walks of life – including people with disabilities – see owning a home as a way to build economic wealth, to create community ties, to address affordable housing needs, and to have a place to call “home.” According to the Census 2000, U.S. Census Bureau, 49.7 million people in our country have a disability. That’s nearly one out of five people.

If you have a disability or a family member with a disability, and would like to learn more about Fannie Mae affordable mortgages as well as locate Fannie Mae-approved lenders and counseling agencies in your community, please call Fannie Mae’s Consumer Resource Center at 1-800-7-FANNIE (1-800-732-6643).

http://www.hhs.gov/od/documents/HomeChoiceConsumer
_Fact_Sheet.doc



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