HUD Issues Statement on Pending Housing Legislation

Recently, HUD Secretary Steve Preston issued a statement in order to address the housing legislation that is being currently considered by congress. Preston noted that although the proposed legislation makes moves toward providing stability to the financial markets, it does have a degree of restriction from helping more families. In order to help more families to avoid foreclosure, FHA has developed a fairer and more flexible pricing plan – yet the legislation would deny the FHA the ability to change differential pricing.

For the full comments from HUD, please visit:
http://www.hud.gov/news/release.cfm?content=pr08-111.cfm