HUD Lines

FOR HOMEOWNERS, FUTURE BUYERS AND LENDERS...
HOPE for Homeowners (H4H) Board of Directors approves changes to help more distressed borrowers refinance into affordable, government-back mortgages. Modifications to HOPE for Homeowners include: Increasing loan to value ratio (LTV) to 96.5 percent for some H4H loans; simplifying the process to remove subordinate liens; and allowing lenders to extend mortgage terms from 30 to 40 years *** Help is still available for homeowners concerned about ARM adjustments, defaults and foreclosures - a HUD-approved Housing Counseling Agency - the HOPE NOW Alliance at 1-888-995-HOPE, or FHA at 1-800-CALLFHA *** HUD issues new mortgage rules to help consumers shop for lower cost home loans - New 'Good Faith Estimate' (GFE) will help borrowers save nearly $700 at closing - Standardized GFE and HUD-1 to start January 1, 2010. *** HUD announces new, permanent FHA mortgage loan limits for Richmond Metro, Southwest Virginia, Hampton Roads Metro and Northern Virginia Metro areas – see mortgagee letter and updated mortgage limits ***

YOU KNOW...
*** Hurricane season is really over when it's time for Winter Preparedness Week - Nov. 30-Dec. 6. Virginians can find winter-specific safety information and related links ***

BRIEF BRIEFS...
*** Free Training Teleconference on the NEW Ticket to Work Program - December 9, 2:00pm to 3:00pm. New program for helping homeless people with disabilities rejoin the workforce - Register online *** Annual VAHCDO Legal Seminar, December 4 - 5, 2008 at Richmond OMNI - Contact Nancy Tarkenton at Virginia Association of Housing & Community Development Officials *** HAC National Rural Housing Conference December 2 - 5 registration@ruralhome.org *** Pet ownership rules revised for HUD properties. HUD conforming pet ownership rules for HUD-assisted public and multifamily housing projects for the elderly and persons with disabilities to the rules for animals assisting persons with disabilities in public housing. See Federal Register, 10/27/08, pp. 63833-38. Contact Bryan Greene, HUD, 202-619-8046. ***

PRESERVING AMERICA...
*** The revitalization of downtown Lynchburg caught the attention of Southern Living, and is featured in a regional section of the magazine's December issue ***

GREEN NOTES...
*** Dominion Virginia Power is partnering with Earthcraft House for next generation of energy efficient homes - Possibly the first time an electric utility has endorsed and partnered with a green builder program like EarthCraft. The Dominion/EarthCraft partnership has potential to expand the EarthCraft green builder program to thousands of single & multifamily homes throughout Virginia, providing a minimum of 15% more energy efficiency (EnergyStar®) and for many, up to 25-30% greater efficiency. *** National Council of State Housing Agencies awards VHDA for Program Excellence during the recent 2008 annual conference & tradeshow-VHDA's Green Building Incentive Program won in the newly created "Going Green" category ***

BRIEF BRIEFS TO LEARN FROM...
*** Just released Department of Health and Human Services Center for Faith-Based and Community Initiatives: Partnering with Faith-Based and Community Organizations: A Guide for State and Local Officials Administering Federal Block and Formula Grant Funds ***

BRIEF BRIEFS TO CHEER FOR...
Congratulations to the winners of the 2008 Virginia Housing Awards, announced at the Governor's Housing Conference on Nov. 13. Applause to Virginia Beach Community Development Corporation for Biznet Village (Best Housing Development), Fairfax County for its Workforce Housing Program (Best Housing Program), RPJ Housing for Mountain Oaks Apartments (Best Housing Preservation/Revitalization Effort), Better Housing Coalition (Best Housing Organization), and EarthCraft Virginia for the EarthCraft Multifamily Program (Best Affordable Housing Energy Conservation Effort). Congratulations also to Emma Freakley, 4th grader at Armstrong Elementary School in Hampton, who won the 2008 Children's Art Contest with "My Dream Home" *** City of Salem receives nearly $1 million through Virginia Dept. of Emergency Management's (VDEM) Severe Repetitive Loss grant to acquire & demolish 7 properties - protecting families from hazards associated with flooding, reduce flood losses, protect properties downstream and create perpetual green space. ***

BRIEF BRIEFS TO LOOK INTO...
*** Applications for the 2009 Housing and Community Design Awards program (AIA/HUD Secretary's Housing & Urban Development Design Awards) due December 12, 2008. Criteria & instructions for online submissions. Contact AIA at (202) 626-7586 or honorsawards@aia.org *** A Housing & Transportation Resource Bank established on Virginia's "Money Follows the Person" website. Under Money Follows the Person, over 1,000 Virginians will move from institutions to the community over next 3 years. To learn more and access the Housing Resource Bank *** Hazardous Materials Emergency Preparedness grant applications due to VDEM Dec. 15. Download applications For more information, contact Hazardous Materials and Terrorism Planning Branch Manager Randy Francis at (804) 897-6500, ext. 6585 ***

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