(Archived Content)
Treasury Secretary Henry M. Paulson, Jr. and HUD Secretary Alphonso Jackson will be joined by mortgage market participants tomorrow to announce the formation of a new alliance that will develop strengthened efforts to help struggling homeowners keep their homes.
In the wake of housing market weakness and credit market turmoil, many Americans face mortgage resets that pose significant challenges. On August 31, President Bush announced aninitiativeto 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.
Who Treasury Secretary Henry M. Paulson, Jr.HUD Secretary Alphonso JacksonNeighborWorks America CEO Ken WadeWells Fargo Home Mortgage Co-President Michael J. HeidAmerican Securitization Forum Executive Director George Miller** What** Announcement of New Effort to Help Struggling Homeowners** When** Wednesday, October 10, 10:30 a.m. (EDT)** Where** Treasury DepartmentMedia Room – 41211500 Pennsylvania Avenue, NWWashington, D.C.** Note:** Media without Treasury press credentials should contact Anita Hunt at (202) 622-2920, or anita.hunt@do.treas.gov with the following information: full name, Social Security number and date of birth.- 30 -