HUD

Author:

Moneyzine Editor

1 mins

September 25th, 2023

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Definition

The U.S. Department of Housing and Urban Development, or HUD, had its origins in the Housing Act of 1937. The mission of HUD is to increase ownership of homes, support communities, and assure the development and access to affordable housing - for all Americans, free from discrimination.

Explanation

In order to fulfill this goal, and remain in touch with the communities it serves, HUD strikes partnerships with faith-based or religious community organizations. HUD believes it can fulfill its mission of promoting decent and affordable housing by:

Expanding access to affordable rental units.
Increasing management accountability for public and assisted living homes.
Increasing the home ownership and housing opportunities for the elderly and persons with disabilities.
Helping renters realize the dream of becoming self-sufficient, and owning a home of their own.

HUD fulfills on this mission through mortgage, grant, assistance and a wide variety of regulatory programs it administers.

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