While national headlines offer a bleak picture of the nation’s housing market, there’s good news for homeowners in Prince George’s.
The county has been recognized for its successful Section 8 homeownership program, which helps residents of modest means take hold of the American Dream.
Earlier this month, the county’s housing authority received the National Association of Housing and Redevelopment Officials' Award of Excellence to honor the program’s success.
Section 8 refers to a 30-year-old federal effort created to assist low-income families to find housing. Under the program, subsidies are paid to property owners in exchange for charging low rent.
The county’s effort targets Section 8 voucher holders who are interested in becoming first time homeowners. Since its inception two years ago, the program has helped 52 families into their first home. Under the program, monthly subsidies that are usually paid to landlords are directed to mortgage lenders.
“Homeownership is an attainable goal for all of the citizens in Prince George's County, that creates wealth for families and allows them to have a vested interest in the communities they choose to live,” said County Executive Jack Johnson in a statement. “We are committed to ensuring everyone capable and willing to buy their own home has the means and is able to see their dream become reality.”
Earlier this year, the U.S. Department of Housing and Urban Development also recognized the county’s housing authority with an award for the program’s success.
“This program has transformed the lives of those on whom others have given up,” said Carla Carter, deputy director of the county’s housing authority, in a statement. “What is most remarkable is that while so many conventional homeowners are drowning in a sea of mortgage foreclosure, not one of our Section 8 homeowners have foreclosed.”
--PGS Staff
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