Foreclosure

May 19, 2009 -- LANSING - Michigan Governor Jennifer M. Granholm issued the following statement on foreclosure legislation passed today by the Michigan Senate:

"I'm pleased the Legislature has given final approval to legislation that will protect Michigan homeowners by helping them stay in their homes. Nothing symbolizes the American Dream more than the family home, but for thousands of Michigan homeowners, that dream is being jeopardized by the looming threat of foreclosure.    » read more »

Governor in her radio address says legislation will offer extra time, resources to help Michigan families avoid foreclosure

May 16, 2009 -- LANSING - In her weekly radio address, Michigan Governor Jennifer M. Granholm today hailed a conference committee agreement between the Michigan Senate and House of Representatives on legislation that will freeze foreclosure proceedings for 90 days for homeowners who commit to work with their lender on modifying their mortgage loan.    » read more »

Just Over Two Months after Release of Program Guidelines, Homeowners Realizing Relief under Administration Plan Join Secretaries to Share Personal Stories

May 14, 2009 -- WASHINGTON - With the Making Home Affordable (MHA) program delivering much-needed relief to homeowners and to our economy just over two months after the release of program guidelines, Treasury Secretary Tim Geithner and Housing and Urban Development (HUD) Secretary Shaun Donovan today provided an update on the program's impact on stemming the housing crisis and keeping families in their homes and announced new options for homeowners facing foreclosure.    » read more »

Foreclosure protection offered to displaced families in 10 counties

May 14, 2009 -- WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to 10 storm-ravaged counties in Mississippi and provide support to homeowners and low-income renters forced from their homes following severe storms, flooding, and tornadoes in March.    » read more »

May 11, 2009 -- MAYFIELD, Ky. – Kentucky Governor Steve Beshear today announced that the Purchase Area Housing Corporation (PAHC) has been awarded $1,372,500 from the Neighborhood Stabilization Program (NSP) to help stabilize communities in southwestern Kentucky that have suffered from foreclosures and abandonment.

PAHC, which serves the eight-county Purchase Area Development District region, will use the funds to acquire, rehabilitate and resell foreclosed and abandoned properties that might otherwise become sources blight within neighborhoods.    » read more »

May 11, 2009 -- HOPKINSVILLE, Ky. – Kentucky Governor Steve Beshear today announced that the Pennyrile Housing Corporation (PHC) has been awarded $1.3 million from the Neighborhood Stabilization Program (NSP) to stabilize communities that have suffered from foreclosures and abandonment.

PHC will use the funds to purchase, rehabilitate and resell foreclosed and abandoned properties in Christian County that might otherwise become sources of abandonment and blight within their communities.    » read more »

May 7, 2009 -- WASHINGTON, DC - U.S. Housing and Urban Development Secretary Shaun Donovan today unveiled the Department's fiscal year 2010 budget, which focuses on responsibility, effectiveness and transparency. The proposed 2010 budget exercises strong fiscal discipline, consolidating or eliminating 27 programs and activities, and investing in initiatives to increase transparency and accountability.    » read more »

Neighborhood Stabilization Program to Provide for Purchase and Renovation of Foreclosed Properties across New York

April 14, 2009 -- New York Governor David A. Paterson today announced the award of $59 million in Neighborhood Stabilization Program (NSP) grants to assist communities affected by the foreclosure and subprime mortgage crises. The NSP awards will be distributed to 29 projects throughout the State, allowing for the purchase and redevelopment of foreclosed and abandoned properties. The Governor made the announcement in the Village of Hempstead with Nassau County Executive Tom Suozzi.    » read more »

Funding aimed at neighborhoods hard-hit by foreclosure

March 19, 2009 -- WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today approved nearly $731 million in funding for 48 States and local communities seeking to recover from the effects of high foreclosures and declining home values.

Funded under HUD's Neighborhood Stabilization Program (NSP),these plans will target emergency assistance to particular neighborhoods by acquiring and redeveloping foreclosed properties that might otherwise become sources of abandonment and blight.

The neighborhood stabilization plans approved today include a $145 million plan submitted by the State of California, a program President Barack Obama recognized during a town hall meeting today in Los Angeles.    » read more »

Features Self Assessment Tools, Calculators to Help Borrowers Determine Eligibility, Payment Reductions under Administration's Refinancing and Loan Modification Program

March 19, 2009 -- Washington, DC-- The U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) today launched a new website for consumers seeking information about the Obama Administration's Making Home Affordable loan modification and refinancing program. MakingHomeAffordable.gov offers features including interactive self-assessment tools that will empower borrowers to determine if they're eligible to participate and calculate the monthly mortgage payment reductions they could stand to realize under the Making Home Affordable program.    » read more »

HUD Funds Will Help N.C. Communities With Foreclosures, Other Housing Crisis Issues

3/18/2009 -- Raleigh -- North Carolina Governor Bev Perdue today announced that 20 local governments, nonprofits and other organizations have received grant awards totaling $48.85 million under the new federal Neighborhood Stabilization Program developed late last year by the U.S. Department of Housing and Urban Development. The program’s purpose is to assist those areas hit hardest by the housing crisis.    » read more »

March 10, 2009 -- Connecticut Governor M. Jodi Rell and the co-Chairs of the Legislature’s Banks Committee – Senator Bob Duff and Representative Ryan P. Barry – today announced they have reached agreement on legislation that would make mediation a mandatory part of all real estate foreclosures in Connecticut, a move that could sharply reduce the number of borrowers losing their homes.    » read more »

March 7, 2009 -- WASHINGTON – President Barack Obama used his weekly address to detail his plans to fix our ailing economy, noting that reforming healthcare is necessary to ensure our long term fiscal health. While ending this crisis will not be quick or easy, the President’s plans will take the swift, bold, and responsible actions needed for the United States to emerge stronger and more prosperous than before. And that is why reforming healthcare, jumpstarting job creation, restoring lending, relieving responsible homeowners, and making hard choices are all so critically important right now.

The full audio of the address is HERE.

Remarks of President Barack Obama    » read more »

Alliance Pools Expertise, New Resources to 27 Highly Impacted Communities

CHICAGO, March 5 -- Ethnic communities hardest hit by the foreclosure crisis will receive much needed resources to help preserve homeownership thanks to a new national coalition announced today. The Alliance for Stabilizing our Communities - led by the National Urban League (NUL), the National Council of La Raza (NCLR), and the National Coalition for Asian Pacific American Community Development (National CAPACD) - was created, with the help of Bank of America, to assist multicultural homeowners facing foreclosure identify and procure the best housing solutions possible.    » read more »

March 5, 2009 -- AARP Executive Vice President Nancy LeaMond applauded House passage of the Mortgage Relief Bill and urged the Senate to prevent further foreclosures by quickly taking up the Bill. Following is her statement:

“The bankruptcy provision that passed the House today will allow people at risk of foreclosure, especially older Americans, to rework their mortgages in bankruptcy court and stay in their homes in situations where previous voluntary loan modifications had failed. With rising foreclosures undermining everyone’s property values, this new option will not only help hundreds of thousands of homeowners save their homes, it will help keep everyone’s property values from sliding further.    » read more »