Housing Issues

The Housing and Community Development Act of 1994 Gao ID: T-RCED-94-148 March 10, 1994

H.R. 3838, the Housing and Community Development Act of 1994, addresses a number of issues that GAO has identified in its housing work. For example, it contains provisions that could reduce the potential for defaults or foreclosures in three government-sponsored loan programs: the Department of Housing and Urban Development's (HUD) insured multifamily loans, HUD-guaranteed Community Development Block Grant loans, and the Farmers Home Administration's rural housing loans. It would improve HUD's efficiency in assisting lower-income households by merging the HUD tenant-based certificate and voucher assistance programs. It also authorizes more funding for homelessness assistance programs. On the other hand, GAO is concerned about how the certificate and voucher assistance programs and the homeless assistance programs can best be structured to meet the needs of program recipients while minimizing administrative burdens on HUD staff and program recipients. Congressional monitoring of both the Community Development Block Grant and HUD's multifamily loan programs will ensure that continued delinquencies, defaults, and foreclosures do not threaten the program's effectiveness.

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