After announcing an additional $1.5 billion in federal funding aimed at helping struggling homeowners in states where housing prices have fallen more than 20 percent, the government is signaling that there’s more housing help on the way. Michael Barr, the Treasury’s assistant secretary for financial institutions, said that, although the administration’s housing policies have kept mortgage rates low and reduced the rate of price declines, there’s more work to be done. And while Barr didn’t announce any new programs, legislators, such as House Financial Services Committee Chairman Barney Frank have suggested focusing on principal reduction as a way to create sustainable mortgages. More here and here.
Theresa Springer’s Blog
Government Debates Next Step For Housing
March 9, 2010
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