Basic rent refers to the minimum rent that a tenant must pay under a HUD-subsidized housing program such as Section 236. This rental rate is often influenced by the tenant's income level and family size.
The Department of HUD plays a pivotal role in American housing policy to ensure liquidity, stimulate economic development, and facilitate fair access to housing.
Discrimination in real estate refers to applying special treatment, often unfavorable, to individuals based on race, religion, sex, color, national origin, handicap, or familial status. It is a serious issue as real estate transactions should be conducted fairly and equitably.
The Office of Fair Housing and Equal Opportunity (FHEO) enforces federal laws and establishes policies that ensure all Americans have equal access to the housing of their choice.
Ginnie Mae, officially the Government National Mortgage Association, is a government agency within the U.S. Department of Housing and Urban Development (HUD) that guarantees the timely payment of principal and interest on securities backed by residential mortgages.
The Government National Mortgage Association (Ginnie Mae or GNMA) is a U.S. government corporation within the Department of Housing and Urban Development (HUD) that guarantees timely payments of principal and interest on mortgage-backed securities (MBS) to investors.
The Home Affordable Modification Program (HAMP) is a U.S. government program designed to help homeowners reduce their monthly mortgage payments to make them more affordable, aiming to cap mortgage payments at 31% of a borrower’s verified monthly gross pretax income.
The Housing and Urban Development (HUD) Department is a U.S. government agency devoted to ensuring decent, safe, and sanitary housing for all Americans, particularly focusing on urban development and housing discrimination issues.
The United States Department of Housing and Urban Development (HUD) is a federal agency created to address national housing needs and to improve and develop the nation's communities by providing access to affordable housing opportunities and overseeing fair housing practices.
The Interstate Land Sales Full Disclosure Act (ILSA) protects consumers from fraud and abuse in the sale or lease of land across state lines by requiring developers to register subdivisions of 100 or more non-exempt lots with the Department of Housing and Urban Development (HUD) and provide prospective buyers with a property report.
Minimum Property Standards (MPS) are basic structural and safety requirements established for residential buildings constructed or financed under programs administered by the Department of Housing and Urban Development (HUD). These standards ensure that homes are safe, sanitary, and secure for occupants.
The Office of Fair Housing and Equal Opportunity (FHEO) is an agency within the U.S. Department of Housing and Urban Development (HUD) tasked with eliminating housing discrimination, promoting economic opportunity, and fostering diverse, inclusive communities. FHEO protects people from discrimination based on race, color, religion, sex, national origin, disability, or familial status.
The Office of Federal Housing Enterprise Oversight (OFHEO) was an independent entity within the Department of Housing and Urban Development (HUD) responsible for ensuring the financial safety and soundness of Fannie Mae and Freddie Mac until it was replaced by the Federal Housing Finance Agency (FHFA) in 2008.
The Office of Interstate Land Sales Registration (OILSR) is a division of the U.S. Department of Housing and Urban Development that regulates the offering of land for sale across state lines, ensuring transparency and protecting consumers.
A Property Report is a mandatory document for the sale of subdivisions of 50 lots or more, as required by the Interstate Land Sales Full Disclosure Act (ILSA). This report must be filed with the Office of Interstate Land Sales Registration (OILSR) under the U.S. Department of Housing and Urban Development (HUD).
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.
