Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities

U.S. Government Accountability Office

Administering Agency/Entity	Department of Housing and Urban Development
Short Description	Helps local governments to foster housing opportunities for low- to moderate-income families and address specific community needs by offering them the opportunity to purchase qualified HUD-owned homes for $1 each. Dollar Homes are single-family homes that are acquired by the Federal Housing Administration (FHA) as a result of foreclosure actions. Single-family properties are made available through the program whenever FHA is unable to sell the homes for 6 months. Local governments can partner with local nonprofit homeownership organizations or tap into existing local programs to resell the homes to low- and moderate-income residents of the community.
Primary Purpose	Supports housing and other activities
Type of Housing Supported	Homeownership
Type of Assistance	Property disposition
Fiscal Year 2010 Obligations	Costs/savings associated with property disposition are among the items factored into subsidy rates and are included in expected credit subsidy costs under Mutual Mortgage Insurance Fund.