Rehabilitation Mortgage Insurance Program

by: Iola Bonggay

The Department of Housing and Urban Development, otherwise known as HUD, is a Cabinet department in the executive branch of the United States federal government.

HUD's work is mostly geared towards the creation of strong and sustainable communities that contain safe and affordable homes for everyone.

One of HUD's programs is the Rehabilitation Mortgage Insurance Program wherein they intend to financially assist families as they repair or improve, purchase and improve, or refinance and improve their current residential properties that have been existent for more than a year.

The Rehabilitation Mortgage Insurance Program works in such a way that will make it easier for families to apply for home repair mortgages.

The Department of Housing and Urban Development will form partnerships with credible lending institutions in order to make it possible for families to participate in the Rehabilitation Mortgage Insurance Program.

The funds that will be loaned out under the Rehabilitation Mortgage Insurance Program can be used to rehabilitate existing dwelling in one of four ways, including:

a) Purchasing an existing structure and the land on which the structure is located and rehabilitating it

  (continued...)

Rehabilitation Mortgage Insurance Program
  Page 2

About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on environmental grants and grants for youth programs.

Additional Resources

category - Home Buying Programs

Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut
In accordance with this mission, the Connecticut Housing Finance Authority has established the Urban Rehabilitation Homeownership Program wherein it intends to home purchase loans at steady, below-market rates together with home improvement loans with no interest, all in an attempt to support homeownership and investment in selected Connecticut neighborhoods.

---

Department of Housing and Urban Development: Continuum of Care Homeless Assistance Programs
The CoC Homeless Assistance programs is designed to reduce the incidence of homelessness in established CoC communities, thereby the need to assist homeless individuals and families during the process of quickly transitioning to self-sufficiency and permanent housing.

---

Department of Housing and Urban Development's Dollar Homes Program
The Dollar Homes Program revolves around the process of selling single family homes for a superbly reasonable price of $1 (plus closing cost) to low-to-moderate income families, granted that these houses have been acquired through foreclosure by the Federal Housing Administration, and have already been actively marketed for at least six months and still remained unsold after that certain period of time.

---

Buying A Home After Bankruptcy - Get A Mortgage Loan After Bankruptcy
If you have a recent bankruptcy on your credit and are looking to get financing for a home, there is hope. Buying a home with bad credit will just put more emphasis on the other two factors needed to...

---