Department of Housing and Urban Development - Articles

HUD Mortgage Sale Could Help Thousands of FHA-Insured Borrowers but Unfairly Exclude Others

The U.S. Department of Housing and Urban Development has begun selling off thousands of seriously delinquent mortgages insured by the Federal Housing Administration, a move that could save many distressed borrowers from losing their homes. But it also leaves thousands more who are saddled with equally distressed FHA... Continue Reading »

Home Loan Help for Jobless in Jeopardy

Thousands of potentially eligible homeowners may be left out of a $1 billion Department of Housing and Urban Development program that provides interest-free loans to the unemployed because of documentation and timing problems. The Dodd-Frank Act required HUD to develop the Emergency Homeowners Loan Program. Unemployed... Continue Reading »

Unemployed Mortgage Assistance Program Extended

The Department of Housing and Urban Development will begin taking applications again for a new program providing interest-free loans to unemployed borrowers struggling with their mortgage payments. Under the Dodd-Frank Act authority, HUD launched the $1 billion Emergency Homeowners Loan Program in June. Unemployed... Continue Reading »

New Home Sales Rise, But Conditions Remain Unchanged

The market for new homes showed some unexpected life last month. New home sales rose 11.1 percent to annual rate of 300,000, according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development. While this marks a nice bump up from the February rate of 270,000, it does not yet... Continue Reading »

Foreclosure System Not Busted?

Don't worry, be happy. That seems to be the message from Department of Housing and Urban Development secretary Shaun Donovan (pictured), who said after a meeting with regulators on Wednesday that the recent foreclosure fiasco was not evidence of "systemic issues" at mortgage servicers. While Donovan didn't discount... Continue Reading »

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