The Senate has approved $3.5 billion for rental vouchers that could be used by an estimated 350,000 families displaced by Hurricane Katrina to pay for housing anywhere in the United States.There would be no income limits on the temporary housing voucher program administered by the Department of Housing and Urban Development. And it would cover rents of up to 150% of HUD's area payment standard for one year. Once a family member returns to work, they would contribute 30% of their income toward rental payments, as in the regular housing voucher program. "These temporary rental vouchers would quickly and efficiently move families into stable housing across the country in the communities to which they have been relocated," said Sen. Paul Sarbanes, D-Md., who sponsored the amendment. The Senate approved the Sarbanes amendment by unanimous vote and attached it to the Commerce/Justice appropriations bill. The House has not passed a similar provision. It is unclear whether the Bush administration will support the concept of temporary vouchers, but there is much concern about crowding too many families into temporary trailer parks. Meanwhile, HUD and the Federal Emergency Management Agency are using vacant public housing and federally subsidized apartments to house Katrina victims, as well as cruise ships.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
4h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25