CSPAN Key Capitol Hill Hearings June 27, 2014
Homeowners million have been helped by private lenders, who in many cases have used a similar framework to the one created by this program. Our program has created norms like requiring a point of contact for the homeowner, leading unemployed homeowners delay their mortgage payment for at least six months. This kind of collective action has transformed the way the mortgage industry assists struggling homeowners, spurred new tools to aid communities, and helped reverse the worst housing downturn since the great depression. This has been one component of the administrations effort to kill the hou...