The Federal Government is collaborating with State and local partners to use the best tools available to keep homeowners in their homes. Americans need to know that help is available. The actions of the Federal Government are helping to address a key problem in the housing market: the excess supply of homes on the market. [...]

A recovery in the U.S. housing market from the worst slump since the Depression is unlikely until “well into 2009,” Housing and Urban Development Secretary Steve Preston said today.
“I think we’re right in the middle of it, and I think we have a ways to go before we start seeing a turnaround,” Preston said today [...]

According to figures released June 25 by the U.S. Department of Housing and Urban development and the U.S. Census Bureau, 512,000 new single-family homes were sold in May of this year. That number is 2.5 percent below the figure for April and 40.3 percent below the number of homes sold in May 2007. In addition [...]

U.S. Department of Housing and Urban Development Secretary Steve Preston announced that 300,000 families have refinanced their mortgages with HUD’s affordable mortgage insurance program. Since September 2007, FHASecure – the Federal Housing Administration (FHA) refinancing product – has provided struggling families with expanded access to safe and affordable mortgage financing. FHA is on pace to [...]