Americans are starting to feel a sense of hope about our economy for the first time in half a decade – and a big reason is the rebound in the housing market. It certainly hasn’t always been this way. It was only a few years ago when we learned that many of the same financial [...]
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Throughout Black History Month we honor the legacy of African Americans who have helped shape our great nation. Earlier this week, I was pleased to welcome BET Chairwoman and CEO Debra L. Lee to HUD, and join with HUD staff to affirm this important legacy. The message of Black History Month is a particularly significant [...]
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Jocelyn Harris is a mortgage broker from Delray Beach, Florida. In 2006, during the housing boom, she purchased her first and only family home for $250,000. At the time, she had a steady income and she and her husband were able to easily pay the mortgage. In 2008, the economy took a turn for the [...]
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In 2000, Jose Machin was living the American dream. He purchased his first home in West Palm Beach, Florida with his wife Estephanie. It cost them $61,000 with mortgage payments of $780.60 per month. Jose and his wife were both gainfully employed and never missed a mortgage payment. Then, sadly, their daughter was diagnosed with [...]
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The nation’s largest mortgage servicers have distributed $26.1 billion in direct relief to nearly 310,000 homeowners, or roughly $84,385 per homeowner as part of the National Mortgage Settlement, according to a progress report released today by independent settlement monitor Joseph A. Smith of the Office of Mortgage Settlement Oversight. See our press release today and [...]
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