HUD discourages foreclosures after Ike
Story By: Bea Karnes
Source: AP
Houston, Texas Published 63 day(s) ago
Hurricane Ike may give some homeowners lagging on their mortgage payments a temporary rescue from foreclosure.
Housing Secretary Steven Preston visited Houston on Thursday and urged private lenders to cut some slack to financially strapped homeowners in areas ravaged by Ike along the Texas coast.
Preston says he doesn't want people worrying about foreclosure while being saddled with other costs from Ike.
The Housing Department has already issued a 90-day moratorium on foreclosures of federally insured home mortgages. Officials did not have an immediate number on how many homes could qualify.
