Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Dec 21, 2011

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The U.S. Housing and Urban Development (HUD) and the U.S. Department of Veterans Affairs (VA) came together in an announcement stating that $2.4 million will be provided to public housing agencies to build permanent housing and case management for homeless military veterans.

 

The funding announced by these two organizations will allow for 435 housing vouchers across 18 communities. These vouchers act as prepaid home loans, wherein the veterans will not need to finance their home.

 

This is but another step in fulfilling the Obama Administration’s pledge to end veteran homelessness by 2015.  Since the administration decided to tackle the problem of homeless vets, more than 33,000 homeless veterans have received permanent housing and supportive services.

 

“During this season of giving, I’m thrilled to announce that we have evidence that this funding is making a real difference  to get homeless veterans off the street and into homes they can their own,” said HUD Secretary Shaun Donovan in a press release. “Thanks to the work done by HUD, and agency partners across the Obama Administration, the most recent homeless estimate shows veteran homelessness fell by nearly 12 percent in just one year.”

 

It’s estimated that 12 percent of the homeless veteran population equates to 8,834 people.

 

“This program provides critical assistance to those who have worn our nation’s military uniforms and are in need of a home,” said VA Secretary Erik Shinseki. “VA and HUD will continue to work in partnership to end homelessness among veterans.”

 

The $2.4 million allocated to this round of vouchers is a small drop in the $50 million appropriated to ending veteran homelessness in 2011. This year’s allocation of money to HUD and VA hopes to provide housing to a total of 7,250 homeless veterans.

 

Through the VA, U.S. homeless veterans in Guam and Puerto Rico may also receive support and prepaid home loan vouchers.