HUD Chief Urges Passage of Down-Payment Assistance Bill

Vadum, Matthew
April 2003
Bond Buyer;4/9/2003, Vol. 344 Issue 31611, p5
Trade Publication
U.S. Department of Housing and Urban Development (HUD) secretary Mel Martinez called upon lawmakers to approve a legislation that would authorize a key housing initiative of the government, the proposed American Dream Downpayment program. The bill would authorize federal down payment assistance of about $5,000 for each eligible low-income family purchasing a home. The program, which is part of HUD's Home Investment Partnerships Program, provides funding to prospective homebuyers to match down payment assistance provided by third parties.


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