The Federal Housing Administration, or FHA, is a U.S. government agency within the Department of Housing and Urban Development that administers various loan programs, loan guarantees, and loan insurance programs designed to make homeownership more accessible.
The FHA 236 program provides an interest-rate subsidy for apartment owners, who are required to pass the interest savings on to tenants through reduced rents.
The Home Affordable Modification Program (HAMP) is a U.S. government initiative introduced in 2009 under the Making Home Affordable (MHA) program, designed to help financially struggling homeowners avoid foreclosure by modifying their mortgage loans to a more affordable level.
Section 8 Housing refers to privately-owned rental dwelling units participating in a low-income rental assistance program established through amendments to Section 8 of the 1937 Housing Act in 1974.
Urban renewal is the process of redeveloping deteriorated sections of a city through demolition and new construction, often involving government programs to modernize and revitalize areas.
