(Archived Content)
2007-10-9-15-17-37-3044
Treasury Secretary Henry M. Paulson, Jr. and HUD Secretary Alphonso Jackson were joined by mortgage market participants Wednesday to announce the formation of a new alliance that will develop strengthened efforts to help struggling homeowners keep their homes. View the webcast. On August 31, President Bush announced an initiative to help as many Americans as possible keep their homes. Foreclosures are painful not only for families, but also for neighborhoods and for the economy. He asked Secretaries Paulson and Jackson to spearhead an effort to identify and help struggling homeowners. Treasury and HUD have been meeting with the nation's leading mortgage counselors, mortgage servicers, lenders, investors and other industry experts to explore ideas on how to reach and help as many homeowners as possible.