Congress Eliminates Homeowner Assistance Program

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December 18, 2014

After more budget constraints in Congress, the Federal Housing Administration had no choice but to nix its “Blueprint for Access” program, according to HousingWire.
 
The program was announced in May and was designed to make accessing credit easier for underserved borrowers. Within the program was a smaller, pilot program called Homeowners Armed with Knowledge, also referred to as HAWK. The four-year program was intended to allow homebuyers committed to housing counseling to qualify for savings on FHA-insured loans, helping them save as much as $325 per year or $9,800 over the life of a loan.
 
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