REFinBlog

Editor: David Reiss
Brooklyn Law School

July 11, 2017

Tuesday’s Regulatory & Legislative Roundup

By Jamila Moore

  • California residents are one step closer to obtaining more affordable housing. California’s Senate passed a bill that can potentially provide approximately $250 million in affordable housing funding. To ensure this happens, a Senator from San Diego suggests adding a fee to other real estate transactions in order to supplement the affordable housing costs.
  • The United States Department of Housing and Urban Development (HUD) provided $50 million dollars to various localities to provide housing counseling. Housing counseling is intended to aid families seeking home ownership and prevent foreclosures from occurring. Not only is HUD ensuring families aren’t burdened by housing, it is also ensuring the presence and training of the counselors across the country. HUD approved an additional 3.5 million for counseling training, thereby creating more jobs.
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