Biden Harris supported legislation on rule changes that made this possible, no STFU asshole
Today’s announcement follows a range of actions the Biden-Harris Administration has taken to promote housing stability and affordability. In part due to policies the Administration has put in place, foreclosures and evictions remain well below pre-pandemic levels. The Administration implemented a series of measures that protected homeowners from foreclosure, including enhanced loan modifications to resolve delinquencies. In addition, the Homeowner Assistance Fund is helping struggling homeowners catch up on their mortgage payments and utility costs. The Administration also stood up a first-of-its-kind national eviction prevention infrastructure, providing 8 million payments to households in danger of eviction.
In addition to the changes announced today, the Administration and HUD have taken a range of steps to make homeownership a reality for more Americans. HUD changed FHA’s underwriting policies to allow lenders to use positive rental history in evaluating applicants’ creditworthiness for an FHA-insured mortgage – making it easier for first-time homebuyers to qualify. In addition, HUD expanded access to housing counseling so consumers can seek assistance from more than 1,500 HUD-approved housing counseling agencies and the 4,000 HUD-certified housing counselors. HUD changed the way in which student loan debt is evaluated in FHA mortgage underwriting, enabling more borrowers making payments on student loans to qualify for an FHA-insured mortgage. And last year the Property Appraisal and Valuation Equity Task Force (PAVE) announced more than 20 concrete agency actions to root out racial and ethnic bias in home valuations, including strengthening guardrails against unlawful discrimination in all stages of residential valuation, empowering consumers to take action, and building a well-trained, accessible, and diverse appraiser workforce.
The President has also taken substantial steps to increase affordability for renters and homeowners by increasing the overall supply of housing. Last May, the Administration released a Housing Supply Action Plan, which set the goal of closing America’s housing supply shortfall in five years. For example, the Supply Action Plan calls on Congress to pass the Neighborhood Homes Investment Act, which would boost the supply of single-family homes available for sale to low- and middle-income families in communities throughout the country.
The Administration has also secured rental assistance for more than 100,000 additional households through FY22 and FY23 appropriations and the American Rescue Plan. And in January, the Administration proposed an Affirmatively Furthering Fair Housing rule and announced new actions to increase fairness in the rental market through its Blueprint for a Renters Bill of Rights, which lays out principles and actions to drive federal, state, local, and private sector action to strengthen tenant protections and encourage rental affordability.
https://www.whitehouse.gov/briefing...inistration,homebuyers and homeowners in 2023.
