Department Of Housing And Urban Development (HUD)
Definition of "Department of Housing and Urban Development (HUD)"
Created by the US Congress in 1965, the Department of Housing and Urban Development (HUD) is the agency principally responsible for federal programs relating to housing and urban improvement throughout America.
An important infrastructure feature, the Department of Housing and Urban Development (HUD) has programs that include mortgage insurance for home-buyers, low-income rental assistance, and initiatives for urban revitalization that are developed in conjunction with state and municipal authorities. Not to mention important real estate business conventions and practices and building regulations that the Department of Housing and Urban Development (HUD) champions to make real estate fair for everyone and healthy not only for our financial system but for the American society as a whole, providing assistance to the homeless, applying environmental compliance measures and natural disaster assistance.
Originally, much of HUD’s effort was devoted to subsidizing the construction and operation of low and moderate income housing. Under Ronald Reagan’s administration in the 1980’s, the Department of Housing and Urban Development (HUD) began emphasizing the rehabilitation of substandard housing and assisting low-income tenants in paying for existing housing, either through direct rent subsidies or through a system of housing vouchers.
Two of HUD’s most recognizable programs are Ginnie Mae, which – on a quick analysis - promotes real estate development through liberating cash flow for mortgage companies, and the Federal Housing Administration (FHA), which provides accessible mortgage insurance on loans made by accredited lenders.
Real Estate Advice:
The Department of Housing and Urban Development (HUD) has the mission of taking care of the real estate eco-system, but the real estate agent has the mission of taking care of YOU! Browse The OFFICIAL Real Estate Agent Directory ® and find one for you!
Popular Real Estate Terms
Legal action by an owner of property to oust or exclude an individual or business form using the property. ...
Green lumber is not necessarily a lumber that’s green; though it might, sometimes, be a little greenish. And it’s also not a definition of an environmentally conscious type of ...
Taxable profit or loss arising from a sale. It is reported in the income statement. ...
In everyday discourse, the term specifications describe various properties and features. They can be attributed to products, services, objects, and industries, such as real estate. What do ...
An Option Listing agreement is one of the many specificities of a Listing Agreement. Here’s what happens when the house seller signs an Option Listing: he gives someone (a home buyer, ...
In short, an overage means a surplus or an excess of money. An overage can present itself at a property at an auction where the asset has gone over the asking price. Suppose there’s a ...
Person or entity that has title or a right to something which is typically being held. Examples are real property, corporation, and personal property. Ownership of property may be held by ...
Arrangement between neighbors permitting one of them to put a beam for support on another neighbors wall. ...
Formal written examination given in every state to those people being the age of majority and qualifying to be a real estate salesperson or broker. The examination can consist of multiple ...
Have a question or comment?
We're here to help.