Saving Mark-to-Market

Housing advocates are calling on HUD to support renewing the Mark-to-Market program, one of the more successful efforts to address the expiration of Section 8 project-based contracts. The program enables HUD to restructure mortgages on these projects, so that it can maintain rents at levels low-income tenants can afford and keep the projects profitable for landlords. HUD itself has found that Mark-to-Market has preserved 220,000 affordable units since 1997 and saved the agency nearly $2 billion through savings in the Section 8 program. The program will end in September unless Congress extends it. (www.nhtinc.org)

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