American families are all too familiar with the story: just when they thought they had achieved the dream of owning their own home, abuses in the financial and mortgage sector came back to haunt them and sent them spiralling into foreclosure – often through no fault of their own. Countless other families are still struggling [...]
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Have a question about buying a home, rental assistance or foreclosure but English is not your first language? HUD can help with its new HUD Language Line, a live telephone interpretation service that will allow HUD staff to converse with the public in almost any language. To help HUD staff better communicate with Limited English [...]
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In the largest fair lending settlement in history, today HUD Secretary Shaun Donovan joined Attorney General Eric Holder to announce a $355 million agreement with Countrywide Financial Corporation, a mortgage lender now owned by Bank of America. The case against Countrywide alleges that between 2004 and 2008, the company practiced lending discrimination against more than [...]
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Our guest bloggers today are Phyllis Caldwell, Chief of Treasury’s Homeownership Preservation Office and Raphael Bostic, HUD Assistant Secretary for Policy Development and Research. Foreclosure can have a devastating effect on families and communities. According to recent data, roughly one in 11 homeowners has missed two or more mortgage payments. As many Americans struggle with [...]
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