February 9th, 2009
04:45 AM ET
12 years ago

HUD Secretary: We must limit foreclosures

NEW YORK (CNN) - With Treasury Secretary Tim Geithner set to unveil a new plan to help banks and homeowners Tuesday, and the Senate tentatively prepared to vote on a $780 billion stimulus bill that day as well, this will a busy week in Washington.

Another part of the government that will play a key role in trying to get the economy and housing market back on track will be the Department of Housing and Urban Development (HUD).

Related video: Meet Obama's housing guru

In an exclusive interview on CNN's "Your Bottom Line", Gerri Willis spoke with HUD Secretary Shaun Donovan about how he will be involved in the Obama administration's economic recovery initiatives. Here are some of the highlights.

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Filed under: economic stimulus • Economy
soundoff (One Response)
  1. Mike Dallas

    I say to freeze mortgage payments for folks that lose their jobs and are on unemployment. These mortgages could be backed by Freddie or Fannie and proof would be supplied on a monthly basis by faxing or emailing or going to the office to show the unemployment check receipt.

    February 9, 2009 09:04 am at 9:04 am |