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.

HUD has rejected paternalism, at a time when even some conservatives would like to see some paternalism.

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.

A reduction in the jumbo conforming loan size could harm some borrowers as early as this week.