WASHINGTON - U.S. Housing and Urban Development Secretary Steve Preston today announced that the HOPE for Homeowners (H4H) Board of Directors has approved changes to the program to help more distressed borrowers refinance into affordable, government-back mortgages. The changes will reduce the program costs for consumers and lenders alike while also expanding eligibility by driving down the borrower's monthly mortgage payments.

WASHINGTON - Housing counseling agencies all across the country are experiencing surging demand for their services, especially among families hoping to avoid losing their homes through foreclosure. According to a new report from the U.S. Department of Housing and Urban Development, beginning in 2005, individuals and families increasingly sought counseling to address mortgage delinquencies. Secretary Steve Preston announced the report at a HUD-sponsored roundtable discussion with more than two dozen housing counseling agencies from across the country.

WASHINGTON - For the first time in more than 30 years, the U.S. Department of Housing and Urban Development today issued long-anticipated mortgage reforms that will help consumers to shop for the lowest cost mortgage and avoid costly and potentially harmful loan offers. HUD will require, for the first time ever, that lenders and mortgage brokers provide consumers with a standard Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs. HUD estimates its new regulation will save consumers nearly $700 at the closing table.

WASHINGTON - U.S. Department of Housing and Urban Development Secretary Steve Preston today announced the new Federal Housing Administration (FHA) mortgage loan limits for single-family homes as prescribed by the Housing and Economic Recovery Act of 2008.

WASHINGTON - U.S. Department of Housing and Urban Development Steve Preston today issued the following statement reaffirming the agency's commitment to a seamless transition of operations to the next Administration. Preston has made a smooth transition a priority of his iMPACT 200 agenda.