On December 1, 2010 the Hardest Hit Fund of Rhode Island (HHFRI) had its official launch and was made available to Rhode Islanders at risk of losing their homes.

In response to the staggering economic crisis, the U.S. Treasury awarded Rhode Island $80 million to help those homeowners most affected.

Rhode Island Housing has been designated by the Treasury to oversee the Hardest Hit Fund Rhode Island (HHFRI), and the agency will be processing, approving and administering HHFRI submissions from lender/servicers and U.S. Housing and Urban Development (HUD) approved and HHFRI certified counselors.

For a complete listing of counselors, and to learn more, visit www.HHFRI.org.

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According to the U.S. Census Bureau, Rhode Islanders face a widening gap between their income and their housing costs despite decreased home prices. The Bureau released the 2009 American Community Survey (ACS) today. The survey collects and produces population and housing information annually.

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Senator Jack Reed (D-RI) announced this week that Providence will receive $9.9 million in federal aid to revitalize Providence neighborhoods. These funds will be made available through the Community Development Block Grant Program (CDBG), the Home Investment Partnerships (HOME), the Housing Opportunities for Persons with HIV/AIDS (HOPWA) program, and Emergency Shelter Grants (ESG).

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Rhode Island is set to receive just over $6.3 million in a third round of funding through the through the Neighborhood Stabilization Program (NSP3) to help with our foreclosure crisis. HousingWorks RI's 2010 Fact Book showed how the Ocean State still ranks highest in New England for foreclosures, with over 14,000 mortgages either in the foreclosure process or more than 90 days delinquent during the first quarter 2010.

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On September 1, United States Department of Housing and Urban Development (HUD) Secretary Shaun Donovan announced an unprecedented agreement with the nation's top mortgage lenders to offer selected state and local governments, and nonprofit organizations a "first look" or right of first refusal to purchase foreclosed homes before making these properties available to private investors.

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The House Financial Services Committee today approved H.R. 4868, the Housing Preservation and Tenant Protection Act of 2010.

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After passing a motion to proceed on the conference report of the Wall Street Reform and Consumer Protection Act, HR 4173, the Senate yesterday passed the sweeping financial reform bill 60-39. The bill includes $1 billion for a third round of Neighborhood Stabilization Program (NSP3) funds.

The Neighborhood Stabilization Program has been instrumental in assisting states and local governments to acquire and redevelop foreclosed properties. Rhode Island received $19.6 million in the first round of NSP funding to target 11 communities hardest hit by foreclosures.

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On Thursday, July 15 at 2:00pm, the White House will be hosting a live chat to talk about the progress that the Partnership for Sustainable Communities (HUD/DOT/EPA) has made. Derek Douglas, Special Assistant to the President on Urban Policy at the White House, will moderate the chat. Participants are invited to ask questions live at www.WhiteHouse.gov/live, or you can submit questions in advance through an online partner at www.Planetizen.com.

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An article by Russ Olivo in the July 13 Woonsocket Call  discusses the determination by the U.S. Department of Housing and Urban Development that 180 units of rent-subsidized housing the Woonsocket Housing Authority wants to demolish do not appear to meet the necessary criteria for the plan to move forward.

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An online article in the Providence Business News announced that several Rhode Island nonprofit organizations will receive $6.2 million from the U.S. Department of Housing and Urban Development to construct or renovate housing for low-income residents.

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