Stabilizing Housing Market May Still Prove Difficult

Obama Administration officials, speaking at a conference of real estate writers and editors, admitted that the housing crisis is far from over and administration efforts are taking time to have an effect.

1 minute read

June 22, 2009, 1:00 PM PDT

By Liyuan Huang

"The president's initiative to keep people in their homes through mortgage refinancing and modification has hit some early snags, administration officials said in conference sessions Thursday.

Despite regulatory changes made as the subprime crisis erupted in the summer of 2007, unscrupulous mortgage brokers continue to put people in homes they cannot afford, using mortgages they should not have qualified for, David Berenbaum, vice president of the National Community Reinvestment Coalition said."

FULL STORY: Despite programs, stabilzing housing market may prove difficult, officials warn

Sunday, June 21, 2009 in The Philadelphia Inquirer

Housing United States Housing Market Foreclosure Crisis

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