| HUD is an acronym for Housing and Urban | | | | programs for the other sectors in the society, not just |
| Development. It existed since 1965 and is in charged | | | | limited to low-income families. |
| with making a smooth policy for city and housing | | | | In the year 2005, the budget of the HUD was just |
| development. Since the middle of the 70's, its focus | | | | more than $46 billion, which helps to fund educational |
| has shifted mainly to housing. | | | | programs, discount incentives, buyer credits and |
| One of the major tasks of the HUD is its role as a | | | | bailouts with the goal of assisting all Americans to |
| lending facilitator, which helps low to middle-income | | | | become homeowners. |
| families acquire loans to buy a house. Nevertheless, it is | | | | The US Department of Housing and Urban |
| not a lending company but approves and supports | | | | Development program aids families achieve and |
| lenders materially. | | | | otherwise hard goal, the chance of buying and owning |
| The HUD program, which is funded by the | | | | a home of their own. |
| government, provides affordable loans to those | | | | You can inquire from your local public housing agency |
| categorized as low-income individuals. President | | | | on how you can avail of an HUD. The FHA provides |
| Lyndon Johnson established it in 1965 as a means of | | | | mortgage insurance to people to purchase |
| preventing discrimination in the industry of housing. IN | | | | single-family homes, condos, multi family homes and |
| 1968, Pres. Johnson expanded it to include the Fair | | | | other kinds of HUD approved homes. The mortgage |
| Housing act, which made it illegal to deny or refuse | | | | insurance programs could help you get a good deal |
| someone housing based on race, religion or gender. | | | | from the lender by obtaining a home loan with a low |
| The HUD is tasked to ensure that the Fair Housing Act | | | | down payment and lower closing costs. |
| is followed and investigates any violation reports. | | | | There are also free housing HUD grants for first time |
| Furthermore, it provides FHA loans and housing | | | | homebuyers. There are wonderful opportunities for |
| vouchers to both renters and owners throughout the | | | | buying a home, improvement, repair, renting and |
| United States. All real estate agents in the US | | | | foreclosures. HUD conducts counselling programs that |
| participate in HUD programs and can give advice to | | | | help educate participants of several HUD grants and |
| their clients who want to receive or avail of HUD | | | | also guide people on issues such as loan modification, |
| assistance. All bids receiving HUD assistance should | | | | renting, credit and reverse mortgage. |
| come through a participating real estate agent and | | | | Check out your nearest HUD office for more |
| could not be handled directly by the homebuyer. | | | | information on the several programs and |
| Anything that is related to home ownership or rentals | | | | announcements about the various grants from time to |
| fall in the jurisdiction of HUD, including housing | | | | time. The HUD has helped a lot of people purchase |
| discriminations, safety issues, senior housing, | | | | their first homes, helped them in renovating, and |
| homeowner's insurance and home repair. It also | | | | upgrading their homes, pay for rents and mortgages. |
| handles several initiatives created as incentive | | | | |