June 22, 2009 -- by Stephen Gandel -- Time
The government finally seems to be making progress in its efforts to stem the foreclosure crisis. Housing and Urban Development (HUD) officials say lenders extended loan-modification offers to 40,000 borrowers who were struggling to pay their mortgage in the second week of June. That is nearly triple the weekly average of about 15,000 workouts that loan servicers had extended in the prior 10 weeks since the government's latest foreclosure-prevention plan was announced.
"Foreclosures were becoming a self-reinforcing problem for the housing market," said HUD head Shawn Donovan, speaking to journalists last week at the National Association of Real Estate Editors' annual conference. "Already we are seeing signs that the housing market is better off than when President Obama took office."
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Showing posts with label HUD. Show all posts
Showing posts with label HUD. Show all posts
Monday, June 22, 2009
Friday, June 19, 2009
Federal Housing Administration to play expanded role
June 19, 2009 -- By Alan J. Heavens -- Inquirer Real Estate Writer
WASHINGTON--With some early signs that the housing market is stabilizing, HUD Secretary Shaun Donovan said yesterday that President Obama's continuing efforts to "fix a financial system that's broken" meant that the Federal Housing Administration would play an increasingly larger role in mortgages.
"While we prefer to have the private market be more involved, we have asked . . . to expand our authority to provide $400 billion more for the FHA insurance program," Donovan said at a conference of real estate reporters and editors here
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WASHINGTON--With some early signs that the housing market is stabilizing, HUD Secretary Shaun Donovan said yesterday that President Obama's continuing efforts to "fix a financial system that's broken" meant that the Federal Housing Administration would play an increasingly larger role in mortgages.
"While we prefer to have the private market be more involved, we have asked . . . to expand our authority to provide $400 billion more for the FHA insurance program," Donovan said at a conference of real estate reporters and editors here
more ...
Tuesday, June 16, 2009
HUD Offers $58 Million for Housing Counseling
Funding to help hundreds of thousands of homeowners, homebuyers and renters find and sustain housing
WASHINGTON--The U.S. Department of Housing and Urban Development today announced that more than $58 million is available for a broad range of housing counseling programs to help families find and preserve housing. The funding is an increase of $11 million, or 23 percent, over last year. These grants will be awarded competitively to hundreds of HUD-approved counseling agencies and State Housing Finance Agencies that offer a variety of services including how to purchase or rent a home, how to avoid foreclosure, how to improve credit scores, and how to qualify for a reverse mortgage.
"Now, more than ever, it is crucial that American families make informed decisions about their housing choices," said HUD Secretary Shaun Donovan. "These counseling agencies are also vital to the success of the President's Making Home Affordable Plan which is helping families avoid foreclosure and remain in their homes."
more ...
WASHINGTON--The U.S. Department of Housing and Urban Development today announced that more than $58 million is available for a broad range of housing counseling programs to help families find and preserve housing. The funding is an increase of $11 million, or 23 percent, over last year. These grants will be awarded competitively to hundreds of HUD-approved counseling agencies and State Housing Finance Agencies that offer a variety of services including how to purchase or rent a home, how to avoid foreclosure, how to improve credit scores, and how to qualify for a reverse mortgage.
"Now, more than ever, it is crucial that American families make informed decisions about their housing choices," said HUD Secretary Shaun Donovan. "These counseling agencies are also vital to the success of the President's Making Home Affordable Plan which is helping families avoid foreclosure and remain in their homes."
more ...
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