FHA AND FANNIE MAE ANNOUNCE GREEN REFINANCE PLUS TO PAY FOR ENERGY-EFFICIENT UPGRADES IN AFFORDABLE APARTMENT BUILDINGS
By HUD -

WASHINGTON, DC – May 31, 2011 – (RealEstateRama) — U.S. Housing and Urban Development Secretary Shaun Donovan today announced Green Refinance Plus, a program between HUD’s Federal Housing Administration (FHA) and Fannie Mae to allow owners of existing affordable rental housing properties to refinance into new mortgages that include funding for energy- and water-saving upgrades, along with other needed property renovations.


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U.S. Department of Housing and Urban Development (HUD) is the nation’s housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development, and enforces the nation’s fair housing laws.

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