HUD cuts Indian home loan guarantees due to budget sequester

Tuesday, March 12, 2013  

The Department of Housing and Urban Development is ending support for the Section 184 Indian Home Loan Guarantee Program due to the sequester of the federal budget.

Joshua Taylor applied for loan assistance for a home in Tulsa, Oklahoma. But he received a letter from HUD stating that the program will be cut as of March 27.

"The official letter says they're not doing funding right now, but 'your order had been in for so long that we figured those orders would still go through," Taylor told KJRH-TV.

Taylor holds out hope that his loan guarantee will be approved before he closes on the home on April 1. He's one of 6,000 people in Oklahoma who have benefited from the Section 184 program, KJRH reported.

Get the Story:
Across-the-board federal spending cuts gut HUD program aimed at Native American homeownership (KJRH-TV 3/11)

School district on Navajo Nation braces for cuts with sequester (3/6)
Tribes brace for cuts in federal funds under budget sequester (3/1)
Eastern Cherokees prepare for budget hit with sequestration (2/27)
Indian programs at Interior face $130M cut under sequester (2/26)
Agency leaders detail effects of sequester on Indian programs (2/15)