Acting Secretary Todman speaks to the Biden-Harris Administration’s work to lower housing costs and expand economic opportunity
CHARLOTTE - Today, Adrianne Todman, Acting Secretary of the U.S. Department of Housing and Urban Development (HUD), provided remarks at Vice President Kamala Harris’ Economic Opportunity Tour in Charlotte, North Carolina.
Acting Secretary Todman spoke about HUD and the Biden-Harris Administration’s efforts to reduce housing costs, increase the supply of affordable housing, and create opportunities for families across the United States.
Below are Acting Secretary Todman’s remarks as delivered:
"Hello Charlotte!
It is good to be here. It is good to be in the great state of North Carolina!
As HUD’s leader, I meet a lot of people while I’m traveling the country. What I hear most folks say is that people just want a fair shot to get ahead. Isn’t that right?
They want to be able to put down roots, save for their future, and have something they can leave behind for their children and their grandchildren.
And I am so proud to serve in an Administration that is making sure folks have that fair shot.
This Administration, from Day One, has worked to ensure Americans of all backgrounds can access the tools and resources they need to build the lives of their dreams.
A few weeks ago, I was in Denver, where I met a mom who was able to save enough money while she was living in subsidized housing that she was able to buy a home for herself and her three kids. She talked about how excited the kids were, running and finding their own bedrooms.
And it’s all thanks to a program that we run at HUD, that under this Administration, we expanded under this President and our Vice President.
Or maybe the families I have met who received downpayment assistance bought their home and are now building wealth for their families.
It’s stories like these that live in communities here in Charlotte and across the country. And they’re happening because our President and our Vice President have made it their priority to create economic opportunities.
In fact, right here in Charlotte and across the state of North Carolina, hundreds of thousands of families are able to buy their first home – and keep their homes — because of investments and changes this Administration made from Day One.
And it means thousands of people are building wealth and equity that they can pass on to the next generation.
And we’re here today because we want to make sure we open those doors of opportunity for even more people including people with medical debt.
It’s estimated that if medical debt is no longer counted on a person’s credit score; their score will increase by about 20 points on average. That might seem like it’s not a lot but it could make a big difference between qualifying for a mortgage for your first home or qualifying for a mortgage help your kids."
"In fact," Todman continued "it’s estimated that this change alone will lead some 22 thousand new mortgages – so that means 22 thousand families – being approved every year."
"And more families can reap benefits generational wealth through homeownership."
"I am happy say June National Homeownership Month! This what possible when you have President Vice my colleagues across federal family who making sure everyday folk realize dreams example invested millions dollars into counseling services so get trustworthy advice buying first hard enough sometimes need somebody really complex path Last year interest rates went up announced historic cut mortgage fees change helped than 680 thousand people save almost $1k year $600 million just alone Look know more need help seeing costs too high rent purchase house why plan bring down building rent purchase pay plan help-time let me say first-generation weren’t get house do downpayment assistance existing expanding Let focused seniors veterans young adults starting out centered “people.”"
"I proud call her my And stand members creating more Thank having us!"
