Obama Administration Announces New Details on Making Home Affordable Program – April 28, 2009

WASHINGTON – The Obama Administration today announced details of new efforts to help bring relief to responsible homeowners under the Making Home Affordable Program, including an effort to achieve greater affordability for homeowners by lowering payments on their second mortgages as well as a set of measures to help underwater borrowers stay in their homes. Please click here to view the full press release.

Obama Team Is Warned That HUD Needs Work (Washington Post) – November 20, 2008

Washington Post – The Obama administration will soon inherit a $35 billion federal housing agency that was a weak backbencher during the housing crisis and moved too late to do much to keep millions of families from going into foreclosure.

Beyond the pressing crisis, the Department of Housing and Urban Development also has dramatically retreated in the past eight years from its mission of fostering affordable housing. Pushing homeownership has been the agency’s top priority under the Bush administration, and HUD’s budget for public housing for low-income families has been cut year after year.

Please click here to read the full article from the Washington Post.