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Donovan: Sequestration could devastate Fed housing programs

 · Although mortgage bankers aren’t (yet) worried that the sequester will hammer applications, the Federal Housing Administration could be in for some adjustments. The Department of Housing and Urban Development and Ginnie Mae could be forced to furlough thousands of employees if sequestration spending cuts go into effect as scheduled on March 1.

Donovan: Sequestration could devastate Fed housing programs By Edmund In Mortgage Brokers Contents Affordable multifamily housing programs Legal aid attorneys Equal. david stern.july Homes industry claims federal law The particular issue with section 8 vouchers, which are.

Another 125,000 individuals or families could lose assistance offered through the Housing Choice Voucher program, putting more people at risk of becoming homeless, Donovan told the panel. The HCV program currently provides support to families who are renting in private apartment units. Donovan added that sequestration cuts could cause more than.

In addition to cuts in the housing choice voucher program, the sequestration also reduces funding for other federal rental assistance programs — including public housing and homeless assistance, which will lose an estimated $304 million and $99 million in the sequester, respectively.

If sequestration remains in place, it will hit other critical housing assistance programs hard. Funds that communities use to assist homeless individuals and families will be cut by $96 million; HUD Secretary Shaun Donovan estimates that 100,000 homeless people will lose access to temporary shelters and housing as a result. Funding to operate.

Panic Time? Obama on GOP's 'Dumb' Sequester Cuts In other words, this is all the cash Obama could scrape together after looking for spare change in between the couch cushions of the federal. and housing appropriations bill that would have made.

 · Full Agenda Released for The Atlantic Summit on the Economy .. 9:35 a.m. Housing & The Future of federal assistance. derek thompson, Senior Editor, The Atlantic; The Honorable Shaun Donovan.

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Donovan: Sequestration could devastate Fed housing programs.. The National Low Income Housing Coalition (NLIHC) is sounding a warning on rising jobless rates as a deflating housing bubble may.

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In accordance with the continuing resolution passed by Congress and signed by President Barack Obama two weeks ago, the federal. could lose assistance provided through the Housing Choice Voucher.

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