Housing Bill Now Law
On Wednesday, July 30, 2008, President Bush signed into law the historic Housing and Economic Recovery Act of 2008. This makes the Capital Magnet Fund a reality, as well as allows CDFIs to become members of the Federal Home Loan Bank system. The law creates the Affordable Housing Trust Fund, which will increase the supply of affordable housing nationwide, and will provide thousands of homeowners’ relief from foreclosure.
Read moreAugust 13, 2008