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July 10, 2012
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HUD chief: Congress must fix housing

The federal official in charge of efforts to revitalize the housing market said Monday in Reno that the Obama administration has done as much as it can and that the ball is now in Congress's court.

Secretary Shaun Donovan, head of the Housing and Urban Development Department, said that in good part because of those efforts, applications for loan refinancing have tripled and, in just the last quarter, the number of completed home refinancings has doubled.

"Nevada no longer has the dubious distinction of having the highest foreclosure rate in the nation," Donovan said, adding that the state is now …

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The Nevada Appeal Updated Jul 10, 2012 02:55AM Published Jul 10, 2012 02:50AM Copyright 2012 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.