This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.
This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.
Recent depositions involving major servicers, including GMAC Mortgage, J.P. Morgan Chase, and Wells Fargo, have raised concerns about "robo-signing" -- the practice of having a small number of individuals sign a large number of affidavits and other legal documents submitted to courts and other public authorities by mortgage companies to execute foreclosure. This report explores concerns related to these issues by explaining the mortgage market process, procedural problems that have surfaced during foreclosure proceedings, and other relevant information.
This report discusses several issues relating to homelessness among veterans, which has become more prominent since the beginning of the conflicts in Iraq and Afghanistan.
This report discusses three types of housing assistance--the loan guaranty program, direct loan programs, and Specially Adapted Housing program-- includingg their origins, how they operate, and how they are funded. It also briefly describes a home rehabilitation pilot program designed to help veterans who have low incomes or disabilities repair or modify their homes, and has a section that discusses the default and foreclosure of VA-guaranteed loans.
This report provides an overview of the history and evolution of federal housing assistance policy, a description of today's major federal housing assistance programs, and a discussion of issues and trends in federal housing assistance policy.
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