Question:

What does the US HUD (US Department of Housing and Urban Development) do?

Answer:

The US HUD (US Department of Housing and Urban Development) is established as a government agency in 1965. As their mission HUD cite a general purpose for increasing homeownership level, supporting community development, and providing affordable housing for Americans.

Major Endeavors of US HUD (US Department of Housing and Urban Development)

The US Department of Housing and Urban Development has a lot of initiatives and different purpose programs. Among the ones with the major influence on people's life are the FHA (the Federal Housing Administration) home loan programs, providing mortgages for low and moderate households. While neither HUD or FHA fund loans directly to consumers, they provide government guarantee to lenders that loans abiding by certain guidelines will be fully repaid, should a borrower default.

Also, the US Department of Housing and Urban Development has taken upon itself to educate people about different important aspects of homeownership and mortgage practices. They provide

  • free counseling through HUD approved counselors;
  • information about predatory lending practices and how to avoid them;
  • counseling in respect to preventing foreclosure;
  • obligatory reverse mortgage counseling to seniors,

and others.

Different grant programs, targeting minority groups, the homeless, and specific areas also represent a major part of the US HUD (US Department of Housing and Urban Development) activities.

For exhaustive information about US Department of Housing and Urban Development activities in your area, to file a complaint, or check what loan or grant programs you are eligible for, you could browse their webpage, and call them toll-free.

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