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Citizens' Housing and Planning Association: News

News

DHCD Submits Final Neighborhood Stabilization Plan to HUD - December 1, 2008

DHCD’s comprehensive plan for assistance through HUD's Neighborhood Stabilization Program (NSP) contains a combination of centralized resources (a statewide loan fund for acquisition, receivership assistance program, mortgage product support, etc) and targeted responses to specific high-priority geographic areas who request state assistance. Please use the links below to view full documentation of DHCD's plan:



DHCD Submits Final Neighborhood Stabilization Plan to HUD - December 1, 2008

DHCD’s comprehensive plan for assistance through HUD's Neighborhood Stabilization Program (NSP) contains a combination of centralized resources (a statewide loan fund for acquisition, receivership assistance program, mortgage product support, etc) and targeted responses to specific high-priority geographic areas who request state assistance. Please use the links below to view full documentation of DHCD's plan:



Joint Statement on Citigroup by US Treasury, Federal Reserve, and FDIC - November 25, 2008

 

The U.S. Government on Sunday entered into an agreement with Citigroup to provide a package of guarantees, liquidity access and capital. As part of that agreement, Treasury and the FDIC will provide protection against the possibility of unusually large losses on an asset pool of approximately $306 billion of loans and securities backed by commerical and residential real estate and other such assets.

Click here for the full statement.

Fannie Mae to Suspend Foreclosures Until January 2009 - November 21, 2008

In order to support the streamlined modification program announced on November 11, 2008, Fannie Mae (NYSE:FNM) today issued a notice to its loan servicing organizations and retained foreclosure attorneys directing them to suspend foreclosure sales on occupied single-family properties as well as the completion of evictions from occupied single-family properties scheduled to occur from November 26, 2008 until January 9, 2009.

Obama Team Is Warned That HUD Needs Work (Washington Post) - November 20, 2008

Washington Post - The Obama administration will soon inherit a $35 billion federal housing agency that was a weak backbencher during the housing crisis and moved too late to do much to keep millions of families from going into foreclosure.

Bush Administration Announces Changes to Hope for Homeowners Program - November 20, 2008

WASHINGTON - U.S. Housing and Urban Development Secretary Steve Preston today announced that the HOPE for Homeowners (H4H) Board of Directors has approved changes to the program to help more distressed borrowers refinance into affordable, government-back mortgages. The changes will reduce the program costs for consumers and lenders alike while also expanding eligibility by driving down the borrower's monthly mortgage payments.

Please click here to view the full news release on HUD's website.

Program Manager Job Opening at CHAPA - November 18, 2008

CHAPA is seeking an energetic individual to join its staff as the Program Manager for a new venture we are undertaking. In coordination with a foreclosed properties task force, municipalities, and the state housing agencies, CHAPA will be launching a new program to facilitate the sale of real estate owned properties (REO) to non-profits, municipalities, and other eligible purchasers for affordable housing—including both rental and homeownership.

FDIC Releases Proposal to Accelerate Loan Modifications - November 17, 2008

The FDIC has initiated a systematic loan modification program at IndyMac Federal Bank to reduce first lien mortgage payments to as low as 31% of monthly income. Modifications are based on interest rate reductions, extension of term, and principal forbearance.

The FDIC's proposal is designed to promote wider adoption of the systematic loan modification program:

FDIC Releases Proposal to Accelerate Loan Modifications - November 17, 2008

The FDIC has initiated a systematic loan modification program at IndyMac Federal Bank to reduce first lien mortgage payments to as low as 31% of monthly income. Modifications are based on interest rate reductions, extension of term, and principal forbearance.

The FDIC's proposal is designed to promote wider adoption of the systematic loan modification program:

Housing Briefs - November 14, 2008

State Updates



DHCD Accepting Comments on HUD Neighborhood Stabilization Program Plan

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