HUD Secretary Backs 4 New Responses To Housing Crisis

Law360, New York (May 8, 2012, 2:42 PM EDT) -- Housing and Urban Development Secretary Shaun Donovan on Tuesday voiced administration support for a quartet of legislative efforts to aid struggling homeowners and boost mortgage refinancing, telling U.S. senators the initiatives could invigorate the nation's economy if Congress acts before interest rates rise.

Donovan's endorsements, delivered in testimony before the Senate Banking, Housing and Urban Affairs Committee, marked the latest attempt to relieve one of the country's most stubbornly troubled sectors.

Home values continue to languish, overshadowing glimmers of hope such as a downward trend in...
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