HUD announced that the Federal Housing Administration (FHA) will insure mortgages on mixed-use development in opportunity zones under the agency’s Section 220 program. Historically, Section 220 has provided mortgage insurance for rental housing in downtown urban areas that have been targeted for overall revitalization. Now, all 8,764 Opportunity Zones, including those located in rural area, are eligible for mortgage insurance under this program.
The Department of Homeland Security (DHS) released its Inadmissibility on Public Charge Grounds Final Rule. The rule denies visas to persons the government deems to be a ‘public charge’, through their income and potential use of federal programs like Section 8 Housing Choice Vouchers, Section 8 Project-Based Rental Assistance, and Public Housing programs, as well as Supplemental Nutrition Assistance Program (SNAP), Medicaid and parts of Medicare. The final rule significantly expands the list of federal programs that can be used to determine if someone is deemed a public charge and is scheduled to take effect on Oct. 15, 2019.Read More