May 28

Fannie, Freddie Offer $1B To Boost Affordable Housing

Mortgage financing giants Fannie Mae and Freddie Mac are pledging to help increase affordable housing as they look to curb a nationwide housing shortage. The government-sponsored enterprises are offering their largest amount ever toward affordable housing, contributing $1.14 billion to the Housing Trust Fund and the Capital Magnet Fund.

The “announcement of record funding for additional housing production will help increase access to affordable, sustainable housing options,” Sandra Thompson, the FHFA’s acting director, said in an announcement.

The Department of Housing and Urban Development oversees the Housing Trust Fund and provides grants to states and other state entities to promote and preserve affordable housing and to encourage new construction of affordable housing throughout the country. The program will receive $740 million, a $29 million increase from last year.

The Capital Magnet Fund offers grants to financial institutions and nonprofit developers for community development. The fund, overseen by the Treasury Department, will receive $398 million, a $15 million increase.

Housing shortages have been a well-documented problem in the real estate industry in recent years, particularly in the affordable housing sector. The National Association of REALTORS®, partnering with the Rosen Consulting Group, published a study last year calling for a “once in a generation” response to address decades of under-investment and under-building in the housing market. Read the paper: Housing Is Critical Infrastructure: Social and Economic Benefits of Building More Housing.

©National Association of REALTORS®
Reprinted with permission

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.