Did You Know?
PHAs that were funded under the FY 2001 FSS NOFA that
offer homeownership opportunities to FSS program participants
may apply for funding for an additional coordinator
position in 2002 to support homeownership activities
for its FSS program participants. View our
Summary of Funding Availability
for Housing Choice Voucher FSS Program Coordinators
for more information.
interim rule was issued on October 28, 2002, stating
units owned or controlled by PHAs, qualify for purchase
under the Housing Choice Voucher Program homeownership
On November 6, 2002, a correction
to this interim rule was issued.
On October 18, 2002, an implementation
(Adobe PDF, 13 pages) to section 301 of the American
Homeownership and Economic Opportunity Act of 2000 was
issued, amending the "homeownership option" in the Housing
Choice Voucher Program.
To most, owning a home signifies achievement of the American dream.
From a financial standpoint, homeownership can also help families
build equity, incur tax benefits, and improve their credit rating.
Homeowners have the additional benefit of investing in a property
that may increase in value, which can bring even great financial
stability and improve a family's chances of upward mobility. Through
innovative programs and encouragement of WtW staff, many WtW Voucher
recipients can now achieve the dream of homeownership. The links
below provide a good starting point for learning about homeownership
programs and other home-buying resources. With these links, WtW
staff can learn about Individual Development Accounts that can provide
their clients with incentives to save money for buying a home. Staff
can also access resources through the HUD homebuyer page that will
help demonstrate the benefits of buying versus renting to their
WtW clients. These links also connect staff to innovative programs,
such as the Section 8 Homeowner Program, which can help staff see
how home-buying options can be made accessible to clients through
more formalized efforts.
Check back for more resources in coming weeks!