Real Estate – HUD New Policy
Boston Condos for Sale and Apartments for Rent
Real Estate – HUD New Policy
Today, let’s take a deep dive into real estate – hud new policy. From the HUD, Housing and Urban Development website:
God blessed us with this great nation, and together, we can increase self-sufficiency and empower Americans to climb the economic ladder toward a brighter future.”
– Secretary Scott Turner
The federal government never runs out of money for tax deductions for homeowners’ like mortgage interest. Can you imagine if the IRS said, “No tax deductions for you; we are out of money?” Spending cuts for programs for the poor are another matter.
President Donald Trump’s administration
President Donald Trump’s administration unveiled its 2026 budget proposal, calling for $163 billion in sweeping cuts to non defense government spending, including multiple federal housing assistance programs affecting homeowners and renters alike.
According to a 46-page discretionary spending request sent by the Office of Management and Budget to the Senate Committee on Appropriations, the Trump administration is looking to slash the budget of the Department of Housing and Urban Development by $33.6 billion in the next fiscal year.
HUD budget reduction
The lion’s share of the HUD budget reduction, amounting to $26.7 million, will come from the State Rental Assistance Block grant, which provides tenant-based rental assistance, public housing, and housing for the elderly and people with disabilities.
Boston condo broker’s thoughts
I understand, and believe, there is waste and fraud in all departments of the government. With that said, we must also be careful that we don’t go too far with the cuts that could truly impact the needy and disabled.
Peace be with you
Updated: Boston Real Estate Blog 2025
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Updated: Boston Condos for Sale Blog 2025
Byline – John Ford Boston Beacon Hill Condo Broker 137 Charles St. Boston, MA 02114
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Real Estate – HUD New Policy
From HUD: HUD takes action to speed resale of foreclosed properties to new owners
… With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA borrowers access to a broader array of recently foreclosed properties.
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In today’s market, FHA research finds that acquiring, rehabilitating and the reselling these properties to prospective homeowners often takes less than 90 days. Prohibiting the use of FHA mortgage insurance for a subsequent resale within 90 days of acquisition adversely impacts the willingness of sellers to allow contracts from potential FHA buyers because they must consider holding costs and the risk of vandalism associated with allowing a property to sit vacant over a 90-day period of time.The policy change will permit buyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales. This will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities.
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The waiver will take effect on February 1, 2010 and is effective for one year, unless otherwise extended or withdrawn by the FHA Commissioner. To protect FHA borrowers against predatory practices of “flipping” where properties are quickly resold at inflated prices to unsuspecting borrowers, this waiver is limited to those sales meeting the following general conditions:
•All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction.
•In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will only apply if the lender meets specific conditions.
•The waiver is limited to forward mortgages, and does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program.
Specific conditions and other details of this new temporary policy are in the text of the waiver, available on HUD’s website.
