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Multifamily Housing: More Accessible HUD Data Could Help Efforts to Preserve Housing for Low-Income Tenants.

Publication: General Accounting Office Reports & Testimony
Publication Date: 01-MAR-04
Format: Online
Delivery: Immediate Online Access

Article Excerpt
GAO-04-20 January 23, 2004

The Department of Housing and Urban Development (HUD) has subsidized the development of over 23,000 properties by offering owners favorable long-term mortgage financing or rental assistance payments in exchange for owners' commitment to house low-income tenants....

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...When owners pay off mortgages--the mortgages "mature"--the subsidized financing ends, raising the possibility of rent increases. GAO was asked to...

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