Treasurer Zweifel Becomes Chair of Missouri Housing Development Commission

May 26, 2009

by Missouri State Treasurer

Commission also passes program to help homeowners with refinancing

JEFFERSON CITY, MO – May 26, 2009 – (RealEstateRama) — In a unanimous vote Friday, State Treasurer Clint Zweifel became chair of the Missouri Housing Development Commission. Treasurer Zweifel will begin his duties at MHDC’s July 31 meeting.

“I am honored the commission members have confidence in me for this leadership role,” Treasurer Zweifel said. “This commission is vital to Missourians. We have an opportunity to advance homeownership, affordable housing and Missouri’s economy through MHDC.”

Treasurer Zweifel said he looked forward to working with fellow commissioners, staff, program users and the public to continue to advance MHDC’s mission in Missouri.

“Treasurer Zweifel has a strong understanding of economic and housing issues facing this state,” Gov. Jay Nixon said. “I am pleased he is taking over leadership of MHDC at a time when we need to ensure all economic engines in Missouri are working towards moving the state forward.”

In addition to Treasurer Zweifel becoming chair, the commission unanimously approved a homeownership refinance package that targets responsible homeowners needing help refinancing existing mortgages, but who do not qualify for the federal government’s Making Home Affordable Refinance Program or refinancing through the private sector. MHDC’s program will allow Missourians to refinance into lower-interest rate mortgages and to use down-payment and closing-costs assistance if necessary. Each MHDC mortgage recipient approved under the refinancing program must take approved counseling classes in order to qualify.

“MHDC staff and the commission took a look at what it could do to assist in keeping responsible homeowners in their homes through these tough economic times,” Treasurer Zweifel said. “We studied what the federal government was doing to find the place where MHDC could use its resources to help Missourians in a real way. Homeownership is an important step for many Missourians, and MHDC continues to be active in helping people take that step.”

MHDC has invested more than $4 billion to construct, renovate and preserve affordable housing throughout the state. In all, the commission has funded more than 77,000 mortgages for first-time homebuyers in Missouri. Most recently the commission has received accolades for being the first housing agency in the nation to allow first-time homebuyers to collect the federal first-time homebuyers tax credit upfront through the commission’s Tax Credit Advanced Loan Program.

“Economic innovations such as the Tax Credit Advanced Loan Program are exciting forward-thinking ideas I would like to see continued at MHDC,” Treasurer Zweifel said. “With recovery funds coming to the state and to the commission, we have a special opportunity to bring ideas forward and make a real difference in Missouri.”

Contact:
Jon Galloway
(573) 751-7595 – Office
(573) 418-2923 – Cell