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Estate News
Hud Housing Program
The Uniform Act, passed by Congress in 1970, is a federal law that establishes minimum standards for federally funded programs and projects that require the acquisition of real property (real estate) or displace persons from their homes, businesses, or farms. The Uniform Act's protections and assistance apply to the acquisition, rehabilitation, or demolition of real property for federal or federally funded projects. 49 CFR Part 24 is the government-wide regulation that implements the URA.
HUD Handbook 1378 provides HUD policy and guidance on implementing the URA and 49 CFR Part 24 for HUD funded programs and projects. This module covers URA requirements as they apply to HUD programs.
What are the URA's objectives?
To provide uniform, fair and equitable treatment of persons whose real property is acquired or who are displaced in connection with federally funded projects
To ensure relocation assistance is provided to displaced persons to lessen the emotional and financial impact of displacement
To ensure that no individual or family is displaced unless decent, safe, and sanitary (DSS) housing is available within the displaced person's financial means
To help improve the housing conditions of displaced persons living in substandard housing
To encourage and expedite acquisition by agreement and without coercion
Stopping foreclosure with Deed-in-lieu of foreclosure can be done
This won't save your house, but it is not as damaging to your credit rating as a foreclosure. You can qualify if: you are in default and don't qualify for any of the other options,your attempts at selling the house before foreclosure were unsuccessful, and you don't have another FHA mortgage in default.
Newsroom
News about real estate cases in Washington and nationwide:
Definition:
This is a notice that may be given to a person who will be required to move a residence, business or personal property as a result of your agency's project.
Annual Percentage Rate (APR):
Definition:
Calculated by using a standard formula, the APR shows the cost of a loan; expressed as a yearly interest rate, it includes the interest, points, mortgage insurance, and other fees associated with the loan.
Mortgage insurance
Definition:
A policy that protects lenders against some or most of the losses that can occur when a borrower defaults on a mortgage loan; mortgage insurance is required primarily for borrowers with a down payment of less than 20% of the home's purchase price.
If you live in the following cities and need an real estate attorney you should contact
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Arlington
Auburn
Bellevue
Bellingham
Bothell
Bremerton
Edmonds
Everett
Federal Way
Kennewick
Kent
Kirkland
Lacey
Longview
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Marysville
Moses Lake
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Olympia
Pasco
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Redmond
Renton
Richland
Seattle
Shelton
Snohomish
Spanaway
Spokane
Sumner
Tacoma
Vancouver
Walla Walla
Wenatchee
Woodinville
Yakima
Legal Disclaimers All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on Washington Real Estate Lawyers.com is not intended to be real estate advice, but merely conveys
general information related to real estate issues commonly encountered.
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