Home Buyers with HOME/ADDI Aid Had Lower Foreclosure Rates Than FHA-Financed Buyers, Study Find

摘要

Home buyers who received assistance under the basic HOME program and its American Dream Downpayment Initiative (ADDI) component had lower foreclosure rates than home buyers with FHA loans, according to a HUD report. The fiscal 2006 Senate HUD Appropriations Committee report mandated a study on ADDI-assisted home buyers. Because of the ADDI program's limited history and because HOME-assisted buyers are similar to those receiving ADDI aid, the study was expanded to cover both programs.