HUD MOVES QUICKLY TO MAKE $3 BILLION OF COVID-19 RELIEF FUNDING AVAILABLE TO COMMUNITIES ACROSS THE NATION
In addition to funding, mortgage servicers instructed to offer deferred or reduced mortgage payments for up to 6 months
WASHINGTON - President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law last Friday, providing much needed assistance to the American people as the country works diligently to combat COVID-19. Thanks to the President’s leadership, families and communities across the country will immediately feel the impact of this relief package as the federal government works to make these funds available.
After the President signed the CARES Act, Secretary Ben Carson directed the U.S. Department of Housing and Urban Development (HUD) to immediately begin allocating $3.064 billion to help America’s low-income families and most vulnerable citizens. These funds will be awarded quickly by using existing grant formulas; they will also be accompanied by new guidance that cuts red tape so grantees can quickly help their communities.
“President Trump has said repeatedly that combating coronavirus will take a whole-of government response, so we are glad to see Congress come together and join in our efforts to provide relief for the American people,” said Secretary Carson. “During this national emergency, HUD has taken quick action to help our country’s most vulnerable citizens and this additional support from Congress will help us continue to fulfill that mission.”
HUD is making available $3.064 billion through its Community Development Block Grant, Emergency Solutions Grant, and Housing Opportunities for Persons With AIDS programs.