March 2, 2011

The Need for Foreclosure Prevention

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Today, Federal Housing Administration (FHA) Commissioner David Stevens and Assistant Secretary for Community Planning and Development Mercedes Márquez testified before the House Financial Services Committee’s Subcommittee on Insurance, Housing, and Community Opportunity to defend the Obama Administration’s programs on foreclosure prevention and neighborhood stabilization.

In her testimony, Assistant Secretary Mercedes Márquez discussed the status of the Neighborhood Stabilization Program (NSP) and the continued need for NSP funding. Commissioner Stevens went on to testify on two of HUD’s programs: the FHA Refinance Option and the Emergency Homeowners Loan Program.

Read the full testimonies of Assistant Secretary Marquez and Commissioner Stevens


One Response to The Need for Foreclosure Prevention

  1. The banks should open more for loans, to bring the price up, if the amount of foreclosures are down, then everybody will hold up to their properties, nobody wants to rent the problem is the price that a foreclosure bring with it. 70,000 in a neighborhood of 125,000 then everybody get scare, the other point is if my neighbor got away with not paying the mortgage I`will try myself.

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