Mortgage Giant Plans to Offer Housing for 4462 Individuals
Home loan company, Freddie Mac has just embarked on a plan that addresses the critical shortage of community based-housing for individuals with intellectual and developmental disabilities. By providing social bonds, the mortgage giant will offer $230 million in funds to support 4462 people in 1267 rental homes across 39 states and Washington, D.C. The company’s goal is to “deinstitutionalize” the care for individuals with disabilities. Leading this effort is the Freddie Mac Multifamily division whose focus is on diversity, equity and inclusion. Approximately 90% of beds provided will be affordable for people with incomes lower than half the local median level. A spokesperson for Freddie Mac Multifamily said that this effort represents the company’s commitment to ensuring safe, affordable housing that meets the needs of the community it serves as well as encourages innovative solutions to meet the unique needs of underserved communities.
