Fair Housing News

• HUD SECRETARY DONOVAN ENCOURAGES COMMUNITIES, DEVELOPERS TO BUILD ENERGY-EFFICIENT, AFFORDABLE HOUSINU.S. Housing and Urban Development Secretary Shaun Donovan today encouraged a gathering of public housing officials, energy experts, developers and architects to continue exploring innovative practices to build energy-efficient, affordable housing and communities through HUD’s HOPE VI Revitalization program. “President Obama is committed to passing comprehensive energy and climate legislation that will generate millions of jobs, reduce the threat of deadly pollution and restore America’s role as a global leader in the clean energy industry,” Donovan said. “Increasing energy efficiency among American’s affordable housing stock is a central goal of both HUD and the Obama Administration, because it will not only create jobs, but will also lower operating costs for residents, public housing authorities and taxpayers.” July 26, 2009
• Foreclosure Help will Reach more HomeownersThe government will allow more distressed borrowers who owe more than their homes are worth to be eligible for refinancing assistance under an Obama administration housing rescue program.Currently, homeowners who owe 5% more than their homes are worth can refinance mortgages through Fannie Mae and Freddie Mac, part of a two-pronged approach to reduce the rapid-fire pace of foreclosures. On Wednesday, Housing Secretary Shaun Donovan said the program will be expanded, allowing homeowners who owe 25% more than their homes are worth on the market to get refinancing help through the federal agencies. Owing more on a home than it’s worth is referred to as being “underwater.” July 2, 2009