- Feds offer aid to renters as well as homeowners, By Kathleen Pender, August 15, 2010, San Francisco Chronicle: “Congress and the Obama administration have committed tens of billions of dollars to keep homeowners in their homes. Renters, who make up about one-third of households nationwide – and close to two-thirds in San Francisco and other large cities – wish the government would do a little more for them. For homeowners, Obama’s Making Home Affordable program obtained $50 billion from the Troubled Assets Relief Program plus $25 billion, mainly from Fannie Mae and Freddie Mac. Originally this money was supposed to help homeowners refinance or modify subprime mortgages (which qualified as troubled assets). More recently it has been used to help those who can’t pay their mortgage because they are unemployed. Last week, the Treasury said it is using $2 billion to help unemployed homeowners in 17 states, including California…”
- Habitat for Humanity uses federal funds to rehab metro Detroit homes, By Tammy Stables Battaglia, August 16, 2010, Detroit Free Press: “Habitat for Humanity, an agency known for building new houses, is using funds from the federal Neighborhood Stabilization Program to rehab old ones. The program, created in 2008 under President George W. Bush, provides communities and organizations funding to redevelop residential properties. That money must be allocated to projects by Sept. 19. In 2006, seven of 52 Habitat homes in Michigan were rehabs. The organization rehabbed 104 of its 221 homes during the first three months of this year, and there are dozens more projects to be completed, Habitat officials said…”
- Red tape slows North Texas agencies in disseminating federal funds to fight homelessness, By Neena Satija, August 15, 2010, Dallas Morning News: “Getting federal stimulus money to those in need had a slow start in North Texas, with understaffed agencies bogged down in paperwork. Now that the initiative is in full swing – the job has only gotten harder. North Texas received $25 million for the Homelessness Prevention and Rapid Rehousing program in September. As of March, it had only spent $2 million. Now, it has spent $7 million and helped 7,800 households. But a faster flow of dollars means a bigger maze of red tape…”
Poverty-related issues in the news, from the Institute for Research on Poverty