HUD Highlights E-Newsletter
June 2008 Volume 4, Number 6
Region X - Alaska, Idaho, Oregon & Washington
Get Back to Basics with FHA
June is National Homeownership Month, and our partners all across the Northwest are celebrating with groundbreakings and ribbon-cuttings and other special events. Thousands of homebuyers and homeowners are also celebrating by going "Back to Basics", financing their homes with FHA-insured mortgages. FHA - it's the safest, smartest, soundest way to homeownership.
Read about the increase in FHA-insured mortgages in:
If you are shopping for a new home, or want to refinance your existing mortgage, we can help you get started:
- Learn about buying a home on HUD's website.
FHA Mortgage Limits
Have you checked the FHA mortgage limits in your neighborhood lately? The higher the limits, the larger the loan FHA can insure. This means that homebuyers have more choices, since more homes now qualify for FHA financing.
- Check FHA mortgage limits in your area (https://entp.hud.gov/idapp/html/hicostlook.cfm)
- Refinance with FHA
What is Predatory Lending?
Predatory lending is a term used to describe a wide range of unfair financial practices. It's turned the dream of homeownership into a nightmare for thousands of families. Visit Predatory Lending on each of the State's pages for more information.
If you're in the homebuying market, be smart, and learn about the Real Estate Settlement Procedures Act (RESPA). RESPA is the law that ensures homebuyers are fully-informed about such things as settlement costs and "good faith estimates" when they purchase a home.
- Common questions & answers about RESPA can be found on HUD's website.
New HUD Secretary Confirmed
Steve Preston was confirmed as the new Secretary of the Department of Housing and Urban Development on June 5, 2008.
"Steve is a strong leader whose understanding of our financial markets and strong management skills make him highly qualified to serve in this important position", said President Bush. "He will aggressively work to ensure that the Department remains focused on its mission of making housing more affordable and helping Americans keep their homes. Steve is also a consensus builder who will build on our efforts to work with Congress on responsible legislation addressing our Nation's housing policies."
Please join us in welcoming our new Secretary.
King County, WA, Housing Project Wins National Award
King County's Greenbridge Public Housing Transformation Project at White Center wins this year's Community-Informed Design Award for excellence in residential housing design. This honor is awarded jointly by HUD and the American Institute of Architects.
HUD Highlights is an e-newsletter from HUD's Seattle Regional Office about HUD news, upcoming events, program updates and grant opportunities. If you received this newsletter from a friend, and would like to receive your own copy, please sign up for our mailing list.
Questions or comments about HUD Highlights?
HUD Seattle Regional Office, 909 First Avenue, Suite 255, Seattle, WA 98104-1000
(206) 220-5101 or toll-free (877) 741-3281
www.hud.gov or espanol.hud.gov