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Jodi Rave: HUD loans a success in Indian Country
Monday, January 23, 2006

HUD Resources: Office of Public and Indian Housing HUD Stories:HUD expands home loan program in Oregon (08/08) HUD expands housing program for five more tribes (04/28) Indian home loan program expands in three states (04/26) HUD expands Indian housing loans off-reservation (03/31)

"Historically, home ownership has languished in Indian Country, leaving less than one-third of reservation families as homeowners, according to the Government Accountability Office.

Although several government-insured housing programs have failed to substantially increase the number of homeowners in Indian Country, one Housing and Urban Development program stands poised to make a difference.

HUD’s Indian Home Loan Guarantee Program, or Section 184, delivered 2,796 loans to Indian homebuyers totaling $296 million since its first home loan on the Fort Hall Reservation in 1995. The program didn’t gain momentum until 1999.

But HUD’s last-quarter figures promise a benchmark for the Indian home loan program. The department guaranteed 224 loans totaling $28 million during the quarter ending Dec. 31 — or 8 percent of all Section 184 home loans since Congress established the program in 1994.

“That’s the key. It’s a 100 percent loan guarantee,” said Roger Boyd, deputy assistant secretary for HUD’s Office of Native American Programs. “The other reason it’s proven to be highly successful is in our ability to market the program not only to lenders but to borrowers as well.”"

Get the Story:
HUD program proving to be a great success for Natives (The Missoulian 1/23)

Relevant Links:
Jodi Rave Lee - http://www.missoulian.com/jodirave

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