July 10, 2015
The FHA/HUD official site has announced a final rule that will promote and clarify fair housing requirements. A press release titled, “HUD Announces Final Rule On Affirmatively Furthering Fair Housing” announces both new procedures and simplified fair housing rules.
According to the press release, the new final rule will “equip communities that receive HUD funding with data and tools to help them meet long-standing fair housing obligations in their use of HUD funds. HUD will also provide additional guidance and technical assistance to facilitate local decision-making on fair housing priorities and goals for affordable housing and community development.”
For many decades, the communities that receive funding from the Department of Housing and Urban Development are required to observe fair housing rules so that all eligible applicants can receive help getting affordable housing. “Established in the Fair Housing Act of 1968, the law directs HUD and its program participants to promote fair housing and equal opportunity. This obligation was intended to ensure that every person in America has the right to fair housing, regardless of their race, color, national origin, religion, sex, disability or familial status. The final rule aims to provide all HUD program participants with clear guidelines and data they can use to achieve those goals.”
As a former mayor, I know firsthand that strong communities are vital to the well-being and prosperity of families, said HUD Secretary Julin Castro, who was quoted in the press release. Castro adds, Unfortunately, too many Americans find their dreams limited by where they come from, and a ZIP code should never determine a childs future. This important step will give local leaders the tools they need to provide all Americans with access to safe, affordable housing in communities that are rich with opportunity.
The press release says HUD intends to “phase in implementation of the rule so that grantees have substantial time to transition to the new approach.” We’ll review some of the most important points of the final rule in another blog post.
Do you have questions about FHA home loans or refinance loans? Ask us in the comments section.
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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