Loan Officer handing keys to borrower

National Homeownership Month

The week of June 8, the U.S. Department of Housing and Urban Development (HUD) says, marks the beginning of Homeownership Month 2020—a time of year when HUD, the Federal Housing Administration (FHA) and others recognize the importance of homeownership and its impact upon the lives of American families, local neighborhoods, and the national economy. During the coronavirus pandemic, millions of Americans are seeking assistance to achieve or sustain homeownership as the foundation to the health and well-being of their families.

President Donald J. Trump proclaimed June 2020 National Homeownership Month.
“For generations, homeownership has sustained and empowered Americans. Recently, we have been reminded that our homes are central to our health, our independence and the well-being of our families. In response to the coronavirus outbreak, millions of Americans have transformed their homes into safe havens, virtual workplaces, classrooms, and, most importantly, places to nurture hopes and dreams for the future. During National Homeownership Month, we acknowledge the many benefits of secure and affordable homeownership.”

“Each June, we commemorate the importance of homeownership. During the coronavirus outbreak, among our highest priorities at HUD has been to keep people secure in their homes. Representing more than 15 percent of gross domestic product, housing is critical to our economy, valuable to American families and the bedrock of HUD’s mission. For most American families, their home is both their largest investment and biggest expense, and serves as the cornerstone of health and security, particularly during this challenging time,” said HUD Secretary Ben Carson.

“This has been a year we will all remember, when the value of owning a safe, healthy affordable home was truly evident. We recognize this month with a renewed sense of purpose to continuing to help those who need us the most to keep their homes,” said HUD Deputy Secretary Brian Montgomery.

“National Homeownership Month is especially meaningful this year as COVID-19 has transformed our homes into offices, classrooms and sanctuaries,” said Len Wolfson, acting federal housing commissioner. “As we mark Homeownership Month, FHA staff are laser-focused on helping hardworking families stay in their homes and protect their piece of the American dream.”

HUD’s Office of Housing plays a vital role for the nation’s homebuyers, homeowners, renters and communities through its nationally administered programs. It includes the Federal Housing Administration (FHA), one of the largest mortgage insurers in the world.

Source: HUD.gov / RISMedia.com