May 3, 2012 Las Vegas, NV
U.S. Housing and Urban Development Secretary Shaun Donovan spent some time in Las Vegas in part to send the message for struggling homeowners in Nevada that help is available. Citing the “landmark” multibillion-dollar settlement aimed at holding banks financially accountable for their role in the housing crisis, Donovan made a point to identify services available to homeowners facing foreclosure or who find themselves underwater on their mortgages. The settlement includes the country’s five largest loan servicers, including Bank of America, Wells Fargo and JPMorgan Chase and is scheduled to return about $1.5 billion to Nevada to help homeowners with principal reduction, loan modifications and refinancing at low-interest rates. HUD has a hotline set up for inquiries from the public: Hope Hotline (888-995-HOPE).