Alphonso Jackson on Welfare & Poverty

Secretary of H.U.D.

$200M for American Dream Downpayment Initiative

Q: Is there any first time buyer money available that you know of?

A: Your question gives me the opportunity to talk about one of my favorite programs at HUD, the American Dream Downpayment Initiative. The American Dream Downpayment Initiative was first proposed by President Bush during his 2000 campaign. We worked with Congress for three years to enact the legislation. Since the day it passed, HUD has helped more than 6,500 families buy their first homes - and about 50 percent of the buyers have been minorities. Next year, weíre requesting $200 million for this program, which could help 40,000 families achieve homeownership. To see if you qualify for downpayment assistance, visit http://www.hud.gov/. As a first-time homebuyer, you may also want to learn about FHA-insured loans. Unlike conventional loans that adhere to strict underwriting guidelines, FHA-insured loans require very little cash investment to close a loan.

Source: Ask the White House--an online interactive forum , Jun 3, 2005

Supports public housing, and section 8 vouchers

Q: What is being done to help low income Americans acquire affordable housing? I often feel like they have only two options--mobile homes or public housing--and of course while neither are desirable, they do provide for shelter. However, is there any way for low income individuals to have any other options?

A: Although we stress homeownership for the many reasons Iíve highlighted today, I recognize that itís not always an option for low-income families. You mentioned public housing, which is one of a number of HUD programs that make housing more affordable and accessible for families of limited means. We also have programs that assist elderly persons, individuals with disabilities, HIV/AIDS patients, homeless individuals and families, ex-offenders, and others with special needs. Then thereís the Section 8 Housing Choice Voucher program, which helps two million families every year rent housing in the private market.

Source: Ask the White House--an online interactive forum , Jun 3, 2005

More families realize the American Dream of homeownership

Homeownership is called ďthe American Dream,Ē and we want more families to realize the transforming power of homeownership. Homeownership leads to financial independence and the accumulation of wealth, and has a positive impact on a childís development. Thatís why Iím so pleased that more American families own their homes today than at any time in our nationís history. Nearly 75 million Americans are homeowners, and minority homeownership is at an all-time high.
Source: Ask the White House--an online interactive forum , Jun 3, 2005

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Other candidates on Welfare & Poverty: Alphonso Jackson on other issues:
Obama Administration:
Pres.Barack Obama
V.P.Joe Biden
State:Hillary Clinton
a href='../Cabinet/Tom_Daschle_Welfare_+_Poverty.htm'>HHS:Tom Daschle
Staff:Rahm Emanuel
DOC:Judd Gregg
DHS:Janet Napolitano
DOC:Bill Richardson
DoD:Robert Gates
A.G.:Eric Holder
Treas.:Tim Geithner

Former Bush Administration:
Pres.George W. Bush
V.P.Dick Cheney
State:Colin Powell
State:Condi Rice
EPA:Christie Whitman

Former Clinton Administration:
Pres.Bill Clinton
HUD:Andrew Cuomo
V.P.Al Gore
Labor:Robert Reich
A.G.:Janet Reno
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Page last updated: Dec 14, 2011