What does $1 buy you in housing - hang onto your hats - HUD to the rescue

IMAGE: HUD


After searching for homes and talking in person to the people at HUD about foreclosures and recovery, I learned a few things. HUD Secretary Donovan Announces 2.1 Million in New Grants for Seven Homeless Programs in Arizona.  Grants are to assist the situationally homeless and not chronically homeless. Grants are administered by the states through local progams.


Here is the link for Arizona resources.  If you live in another state just click on this link to find information. 

WHAT DOES $1 BUY YOU IN HOUSING????

 HUD has many programs such as the Good Neighbor program designed to help firefighters, teachers and other public service workers substantial discounts in housing.  We are talking 50% discounts.  There are also discounts for Hurricane Evacuees. Programs exist for Indian (section 134), Aids, and for Public Housing residents. In addition each state has programs available such as the information found on HUD's Arizona homeownership page.  There is also the new EHLP program but it is not taking applications. But the program that seems the most exciting is the $1.00 program. 


Hang onto your hats it is not as good as it sounds. After a cursory reading on the program I determined to find some homes that fit the criteria. If you are low income,  and can find a home that has sat on HUD's site for over 6 months, it appeared that you could buy it for $1.00.  I can no longer find that wording and have included the official wording found today on the HUD website, at the end of this posting. 


After talking to HUD officials it seems that only government agencies such as the city of Phoenix or the counties or states can buy these homes for $1.00.  The government then rehabs the homes and sells them on the market.  Yup government helping the low income again (not). 


Here is the information if you are wanting to learn about this program and address your local administrators.  The wording might make you think it is available to homeowners for $1.00 but the revisions clarify a bit that only governmental agencies can buy these $1.00 homes. 

About Dollar Homes

HUD's Dollar Homes initiative helps local governments to foster housing opportunities for low to moderate income families and address specific community needs by offering them the opportunity to purchase qualified HUD-owned homes for $1 each.

Dollar Homes are single-family homes that are acquired by the Federal Housing Administration (which is part of HUD) as a result of foreclosure actions. Single-family properties are made available through the program whenever FHA is unable to sell the homes for six months.

By selling vacant homes for $1 after six months on the market, HUD makes it possible for communities to fix up the homes and put them to good use at a considerable savings. The newly occupied homes can then act as catalysts for neighborhood revitalization, attracting new residents and businesses to an area.

Local governments can partner with local nonprofit homeownership organizations or tap into existing local programs to resell the homes to low- and moderate-income residents of the community.

To find out if properties are available for sale in your community, visit HUD Homes and click on your state.

 Recovery Act Grants:  

*CREATIVE COMMONS

HUD AWARDS $118 MILLION IN RECOVERY ACT GRANTS  (AZ). Special grants were awarded on April 28th to help states combat rural homelessness. $2.1 Million was awarded to Arizona and are accessed through 7 existing homeless programs.

Coping With Chicago's Foreclosure 'War Zones'

This is so wrooooong. cities are given hundreds of thousands of dollars to deal with this mess caused by BANK NEGLECT, FRAUD and GREED. Why aren't the banks being FINED and told to clean it up? They have been paid over and over for the house. Those evicted have lost out - the state gets money for cleanup and now its up to volunteers? give me a break! Check out some previous posts in resource section at bottom of page:

Coping With Chicago's Foreclosure 'War Zones': "'The worst thing about that house was the owner and the lender were coming to court,' said Esenberg. 'And they knew about it.'

It costs up to $2,000 to board up a house, and up to $7,000 to stop an abandoned property falling any further into dereliction, according to Esenberg. A building stripped of copper pipes can cost up to $20,000 to renovate, he said, but that's still cheaper than demolishing and rebuilding.

To pay for the repairs, he places a lien on the building that has to be paid off before any other claims on the property. If the lender or owner doesn't pay up, he can foreclose on the building again.

Many of the houses are losing value so quickly, however, that many lenders would rather hand over the deed than pay for the repairs. Those houses are fixed up to a livable standard and sold to vetted owner-occupiers or affordable home developers through Neighborhood Housing Services in an attempt to stop them falling back into the cycle of neglect.

Additional posts recommended by me.

Robinhood States in Tights - Money Grants for cleanup

$1 billion nationwide: NPS foreclosure damage grant

Robinhood: STATES in Tights? Federal $1 billion bailout scares me

  ROBINHOOD:  STATES IN 

TIGHTS? 

                  

WASHINGTON (MarketWatch) -- The U.S. Housing and Urban Development Department on Wednesday allocated $1 billion in funding to U.S. states to help stabilize neighborhoods faced with many foreclosures. The sweeping bank reform bill, the Dodd-Frank Act, allocated the funds for the programs. "These grants will support local efforts to reverse the effects these foreclosed properties have on their surrounding neighborhoods," said HUD Secretary Shaun Donovan. States can use the funds to acquire land and property; demolish or rehabilitate abandoned properties. 

NOTE:   Conflict of interest is showing, where is the help to homeowners?  Are they helping homeowners Or increasing land holdings for the cities and states?  Let see with 1 million you can buy up a lot of property and increase the net worth of the city or state. 

sxc.hu #566365

Do states make laws that affect the homeowners ability to win or lose their foreclosure fight in court? With states benefiting I call these grants a  conflict of interest! 

Many Taxpayers have been denied help that ONLY extends the loan - now THEIR tax dollars are being used to help fund recovery for the aftermath of the foreclosure frenzy. Is there any end in sight? Where is help for the drowning underwater Americans? 

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$1 billion nationwide: NPS foreclosure damage grant

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Maryland foreclosures: State to get $6.8 million to help stabilize neighborhoods damaged by foreclosures - baltimoresun.com: "Maryland communities will receive $6.8 million to combat the damage that foreclosures have wreaked in neighborhoods, the federal government said Wednesday.


The grants are part of $970 million the U.S. Department of Housing and Urban Development is handing out nationally"   Additional locations receiving help include:

St. Louis REgion (including Illionois)  with award of  $16.2 million    this is in addition to the previous 14+ million awarded in previous years. Illinois will recieve $30 million


Oregon will receive funds. $5 million on top  two previous awards of  $19.6 million and $6.8 million. The state has used those awards to acquire more than 350 properties for rehab or resale in 45 communities including Portland, Gresham, Salem and Bend.




Nevada  who leads in foreclosures nationwide; expects $43 million to help with foreclosure
 crisis.. 




Florida  200 million.. .what is slap in the face -  where was  all the help for homeowners whose modifications were never considered and were not helped. Those who were evicted and yet now look at what is said: 

"These homes are going to be the primary residence of those who are working hard during these difficult times, yet are still struggling to own their own home," Brown said. "Additionally, the program puts people to work immediately since many of the homes require renovation."

NOTE:  What about the over 1 million people yearly nationwide that were trying to stay in their homes? 


JUST OUT: -  ARIZONA gets help: 

Arizona to receive $45 million more to fight foreclosure crisis

AZ Central.com - Lynh Bui - ‎1 hour ago‎

8, 2010 01:14 PM Arizona will receive an additional $45 million in federal dollars to help with the state'sforeclosure crisis. Arizona counties, cities and ...

  ROBINHOOD:  STATES IN 


TIGHTS? 

                  


WASHINGTON (MarketWatch) -- The U.S. Housing and Urban Development Department on Wednesday allocated $1 billion in funding to U.S. states to help stabilize neighborhoods faced with many foreclosures. The sweeping bank reform bill, the Dodd-Frank Act, allocated the funds for the programs. "These grants will support local efforts to reverse the effects these foreclosed properties have on their surrounding neighborhoods," said HUD Secretary Shaun Donovan. States can use the funds to acquire land and property; demolish or rehabilitate abandoned properties. 


NOTE:  Read that bold part again... States  can now take advantage of homeowners who has their homes stolen (see florida) by illegal foreclosure mills etc.   Doesn't that just make your brown eyes - blue?  Let's see conflict of interest.... help homeowners?  or help grow cities or state lands?  Dont' staes make laws that affect the homeowners ability to win or lose their foreclosure fight in court?




NOTE:  the ultimate slap in face is evicting homeowners, especially those trying to get help, and then allowing THEIR tax dollars to help fund recovery for the aftermath of foreclosure frenzy




I could go on and on, but it is getting pretty disgusting to listen to ALL the taxpayer money being awarded, when this was PREVENTABLE.   Dont' get me wrong I think neighborhoods need cleaning up and crime preventation and restoration BUT I am sick at heart that states, cities, banks and insurance companies get funding and homeowners get the boot. 




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