HUD chief speaking at Vegas real estate conference
The Obama administration’s top housing official is talking about programs aimed at helping struggling homeowners during an appearance in a region hard-hit by foreclosures.
Housing and Urban Development Secretary Shaun Donovan is due to speak Monday before the Asian Real Estate Association of America conference at the Bellagio resort on the Las Vegas Strip.
Nevada now ranks fifth in the nation in foreclosures after leading the nation for several years.
Donovan is teaming with Nevada Attorney General Catherine Cortez Masto to talk about a $25 billion Mortgage Servicing Settlement with five of the largest banks in the nation.
In a region where tens of thousands of struggling homeowners may be eligible, they say only about 5,700 mortgage-holders have received relief under the program.