OBAMA ADMINISTRATION SUPPORTS ADDITIONAL FUNDING TO STABILIZE NEIGHBORHOODS HARD-HIT BY FORECLOSURE

Administration to work with Congress on Third Round of Neighborhood Stabilization Program, additional foreclosure prevention counseling dollars. WASHINGTON, DC – May 18, 2010 – (RealEstateRama) — U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced today that the Obama Administration will work with Congress to find ways to help state and local governments more effectively combat the ongoing effects of the housing crisis and home foreclosures through additional funding for the Department’s Neighborhood Stabilization Program (NSP) and foreclosure prevention counseling. Donovan made the announcement today at a roundtable with Washington, D.C.-based reporters sponsored by the Christian Science Monitor.


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U.S. Department of Housing and Urban Development (HUD) is the nation’s housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development, and enforces the nation’s fair housing laws.

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Brian Sullivan
(202) 708-0685

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