Department+of+Housing+and+Urban+Development

The Department of Housing and Urban Development or HUD was created in 1965 when President Lyndon Johnson signed the Department of Housing and Urban Development Act Pub. L 89-174 into law. Robert Weaver was the first HUD secretary. Current secretary is Shaun Donovan. People that are helped by this department are people trying to sell their home because they want to get as much as possible for it. Also people trying to buy a home because they don't want to spend a lot of money on a home. **
 * -Brief History of the Department of Housing and Urban Development (HUD).


 * -Mission statement:** "The Department of Housing and Urban Development is the principal Federal agency responsible for programs concerned with the Nation's housing needs, fair housing opportunities, and improvement and development of the Nation's communities.

In carrying out its responsibilities, the Department administers a wide variety of programs, including: Federal Housing Administration mortgage insurance programs that help families become homeowners and facilitate the construction and rehabilitation of rental units; rental assistance programs for lower- income families who otherwise could not afford decent housing; the Government National Mortgage Association mortgage-backed securities program that helps ensure an adequate supply of mortgage credit; programs to combat housing discrimination and affirmatively further fair housing; programs that aid community and neighborhood development and preservation; and programs to help protect the homebuyer in the marketplace. The Department also takes steps to encourage a strong private sector housing industry that can produce affordable housing; and to stimulate private sector initiatives, public/private sector partnerships, and public entrepreneurship." http://govinfo.library.unt.edu/npr/library/status/mission/mhud.htm

__**-Making Homes more affordable-Jess Obama Administration announces new details on Making Home Affordable Program **__ created April 28, 2009. http://www.hud.gov/news/2009-04-28.cfm They're trying to give responsible home owners a reward by lowering the price on their second mortgage. It will be easier for people with loans to refinance them and in the end pay less money. The government is trying to stabilize the housing market and help the economy become better.

__Sales and construction data lift hopes for U.S. housing__ created May 4, 2009 by Lucia Mutikani. http://www.reuters.com/article/ousiv/idUSTRE53S3NK20090505 Pending sales of previously owned homes have rose again. There are more first time buyers because of all the low prices. The economy is expected to recover by 2010 at the latest.

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Homeowners owe more on their mortgages then what their homes are worth. Lower prices make it more difficult for homeowners to refinance or sell their homes if they get into financial trouble. Some recent indicators have shown up that the housing market may be able to stabilize.======

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--I would suggest to President Obama that people should refinance their mortgages because of the low interest rates. Also lower the interest rates on loans because with higher ones, its harder for people to pay them back and they have to declare bankruptcy.======