The nation’s top housing official has admitted government efforts to help struggling homeowners have failed. In an interview with the Washington Post, Secretary of Housing and Urban Development Steve Preston said the federal “Hope for Homeowners” program has attracted only 312 applications since its October launch. The initiative was billed as a massive effort that would help nearly half-a-million borrowers avoid foreclosure.
HUD Sec.: Housing Relief Efforts Failed
HeadlineDec 17, 2008