Rhode Island Housing Agency Sells Public Housing to Tenants

摘要

The Johnston, R.I., Housing Authority (JHA) has helped 25 low-income families purchase scattered-site public housing under the HUD Section 32 homeownership program, which allows PHAs to sell units to public housing residents or other eligible low-income families. Tenants enroll in homeownership counseling, which provides personal financial education and helps to repair their credit.rnThe housing authority provides financing in the form of a "quiet" second mortgage and closing cost assistance up to $4,000. Funds for Section 32 financing can come from capital funds or from program income.